Procore Technologies has entered into a definitive agreement to acquire DroneDeploy for approximately $845 million in cash, a move that would expand the construction software company's artificial intelligence, robotics and reality capture capabilities.
DroneDeploy provides aerial and ground-based reality capture technology using drones, robots and cameras to collect visual data from jobsites. The acquisition is expected to strengthen Procore's AI capabilities by combining project data with real-time visual information to improve documentation, identify issues earlier and automate parts of construction workflows.
According to the companies, DroneDeploy's platform is used on more than 3 million jobsites across more than 180 countries.
The acquisition would also combine Procore's construction project data with DroneDeploy's visual records of jobsites, creating a larger dataset to support AI-driven tools for contractors. The companies said the technology could help automate inspections, monitor project progress and improve field operations amid ongoing labor shortages.
The transaction is expected to close later this year, pending customary closing conditions and regulatory approvals.
