CoStar Group to Acquire Vexcel, Adding the World’s Largest Survey Grade High-Resolution Aerial Imagery Program to Power Richer Search and Discovery Across CoStar with Tens of Billions of New AI-Derived Data Fields
Key Highlights
- ➤CoStar to acquire Vexcel for approximately $730 million in cash
- ➤Vexcel generated over $140 million revenue, up more than 30% year over year
- ➤Acquisition expected accretive to Adjusted EPS in first full ownership year
- ➤Vexcel imagery covers 45-plus countries, 320 metros, and 99.6% of U.S. population
- ➤Transaction expected to close in first quarter of 2027, pending approvals
Expert Statements
Andy Florance, Founder and Chief Executive Officer of CoStar Group
“Since 1989, CoStar Group has deployed thousands of researchers in vehicles driving tens of millions of miles across hundreds of cities on multiple continents to find, document and photograph real estate, tenants, and construction.”
Andy Florance, Founder and Chief Executive Officer of CoStar Group
“Since then, we have inspected and photographed millions of properties. This direct observation and capture of on-the-ground facts has differentiated CoStar Group from its competitors, making us the leading CRE information solution in the world.”
Andy Florance, Founder and Chief Executive Officer of CoStar Group
“Rapid technology advances in aerial photography and lidar are enabling Vexcel to produce extremely high-resolution images and survey-grade measurements of land, houses, office buildings, industrial properties, retail properties, apartment buildings, construction sites, and other infrastructure in the built environment.”
Andy Florance, Founder and Chief Executive Officer of CoStar Group
“Combining these high-resolution images with the rapidly evolving capabilities of AI to semantically recognize and extract information and features from properties, we believe we can capture hundreds of data fields per property, across the approximately half a billion properties captured by Vexcel, creating a transformative, new, ultra-low-cost proprietary data source that makes CoStar even more valuable, more accurate, and timelier.”
Erik Jorgensen, Chief Executive Officer of Vexcel
“For decades, Vexcel has invested in creating highly accurate geospatial data that customers rely on every day.”
Erik Jorgensen, Chief Executive Officer of Vexcel
“By joining CoStar Group, we gain the scale, technology, and resources to broaden our reach, accelerate innovation, and deliver even greater value to customers worldwide.”
CoStar Group to Acquire Vexcel, Adding the World’s Largest Survey Grade High-Resolution Aerial Imagery Program to Power Richer Search and Discovery Across CoStar with Tens of Billions of New AI-Derived Data Fields
Vexcel’s imagery covers more than 45 countries, 320 major global metros and 99.6% of the U.S. Population and is licensed by the world’s largest technology companies
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