Vexcel Imaging Acquisition, Valuation, Funding & Investors

Vexcel Imaging was acquired by CoStar Group for $730M in October 2026, a 5.2x multiple on $140M of revenue.

Vexcel Imaging acquisition price

$730M

Acquired by CoStar Group · Oct 2026

Vexcel Imaging revenue at acquisition

$140M

Last twelve months · Oct 2026

Vexcel Imaging revenue multiple at acquisition

5.2x

EV/Revenue · Oct 2026

Vexcel Imaging EBITDA multiple at acquisition

26.1x

EV/EBITDA · Oct 2026

Vexcel Imaging Overview

About Vexcel Imaging

Vexcel Imaging is a Graz, Austria-headquartered specialist in photogrammetric systems and remote sensing technologies. Its UltraCam aerial camera series debuted in 2003, complemented by UltraMap software for producing orthophotos, high-density point clouds, and digital surface models. Acquired by Microsoft in 2006 to bolster Bing Maps, the company resumed independent operations as a private entity advancing mapping solutions for governments and enterprises since 1992.


Founded

1992

HQ

AustriaGraz

Status

Acquired

Customer focus

B2B & B2G

Revenue model

Product sales, Subscription

Revenue

$140M (Oct 2026)

Valuation

$730M (acquired Oct 2026)

Vexcel Imaging Acquisition

Vexcel Imaging was acquired by CoStar Group for $730M on 27 October 2026.

The acquisition price implies a 5.2x revenue and 26.1x EBITDA multiple on $140M of revenue.

Before the acquisition Vexcel Imaging had raised $8M across 1 funding round.

CoStar Group entered into a definitive agreement on 27 October 2026 to acquire Vexcel, the operator of one of the world's largest survey-grade, high-resolution aerial imagery programs, for approximately USD 730 million in cash. Closing is expected in the first quarter of 2027, subject to customary and regulatory approvals. CoStar said the acquisition will power richer search and discovery across its platforms with tens of billions of new AI-derived data fields. Vexcel generated more than USD 140 million of revenue over the last twelve months, up more than 30%. Its imagery covers more than 45 countries, 320 major global metros and 99.6% of the US population, and it captures more than 60 million images a year. Vexcel, based in Graz, Austria, designs the UltraCam aerial camera line and the UltraMap photogrammetry software and sells imagery data licensed to large technology companies. The business was founded in 1992, was owned by Microsoft from 2006, and became independent again in 2016 through a buyout by its principals, after which private equity and strategic investors backed its growth. Data now accounts for roughly two thirds of its revenue and hardware about one third.

Vexcel Imaging acquisition details
AcquirerDateTypePriceEV/RevenueEV/EBITDA
27 Oct 2026Strategic M&A$730M5.2x26.1x

Sources: linkedin.com, businesswire.com, tradingview.com, app.dealroom.co, citybiz.co, vexceldata.com, costargroup.com, bizjournals.com, seekingalpha.com

Vexcel Imaging Funding History

Vexcel Imaging has raised a total of $8M across 1 funding round.

Vexcel Imaging funding rounds

Vexcel Imaging funding rounds
DateStageRaisedDeal Summary
Oct 2019Series C$8MVexcel Holdings, Inc. completed a $7.5M funding round on October 1, 2019.

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Vexcel Imaging Competitors

Vexcel Imaging competitors include listed companies like Lectra, Smarter Microelectronics, Addnode Group and Mensch und Maschine, and private ones like Flow Engineering and VA Corporation.

Public and private companies comparable to Vexcel Imaging
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
LectraFranceFrancePublicly listed$568M$89M$734M1.5x
Flow EngineeringUnited KingdomLondonPrivate--$750M-
VA CorporationSouth KoreaSeoulPrivate--$670M-
Smarter MicroelectronicsChinaChinaPublicly listed$121M($31M)$836M6.5x
Addnode GroupSwedenSwedenPublicly listed$590M$108M$850M1.8x
Mensch und MaschineGermanyGermanyPublicly listed$268M$66M$620M2.4x

Vexcel Imaging Public Comps

Vexcel Imaging is no longer listed, but its public comps include Lectra, ZUKEN, Smarter Microelectronics, Mensch und Maschine, Addnode Group, Forward Industries, Gstarsoft, Fukui Computer Group, Materialise and Nagarro.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Lectra$568M$89M1.5x1.5x9.5x9.5x
ZUKEN$272M$50M1.6x1.6x8.7x-
Smarter Microelectronics$121M($31M)6.3x6.5x(24.8x)(25.7x)
Mensch und Maschine$268M$66M2.5x2.4x10.2x9.3x
Addnode Group$590M$108M1.9x1.8x10.4x10.1x
Forward Industries$18M($169M)29.7x9.2x(3.2x)31.4x
Gstarsoft$50M$7M4.7x4.8x32.2x-
Fukui Computer Group$105M$44M2.5x2.4x5.8x-

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Common questions about Vexcel Imaging

When was Vexcel Imaging founded?Vexcel Imaging was founded in 1992.
Where is Vexcel Imaging headquartered?Vexcel Imaging is headquartered in Graz, Austria.
Is Vexcel Imaging publicly listed?No, Vexcel Imaging was acquired by CoStar Group in October 2026.
Who acquired Vexcel Imaging?Vexcel Imaging was acquired by CoStar Group in October 2026.
How much was Vexcel Imaging acquired for?Vexcel Imaging was acquired for $730M in October 2026, a 5.2x revenue multiple.
How much funding has Vexcel Imaging raised?Vexcel Imaging has raised $8M across 1 funding round.
What was Vexcel Imaging's last funding round?Vexcel Imaging's last funding round was a $8M Series C in October 2019.
Which companies are comparable to Vexcel Imaging?Companies comparable to Vexcel Imaging include Lectra, Flow Engineering, VA Corporation, Smarter Microelectronics, Addnode Group and Mensch und Maschine.

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