SUBSEQUENT EVENTS |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | UBSEQUENT EVENTS On July 27, 2026, the Company entered into an Agreement and Plan of Merger to acquire DroneDeploy, Inc., a Delaware corporation (“DroneDeploy”), for a purchase price of approximately $845.0 million in cash, subject to certain adjustments for working capital, transaction expenses, cash, and indebtedness, among other things, as described in the merger agreement. DroneDeploy is a software company that provides cloud-control software solutions for drones and other robots, which include automated flight safety checks, workflows, and real-time mapping and data processing. In addition to the purchase price, the Company has agreed to create a retention pool for the benefit of certain service providers of DroneDeploy consisting of equity awards, or cash where equity cannot be granted due to applicable law, to encourage such service providers to continue providing services to the Company or its affiliates following the closing of the merger. The completion of this transaction is anticipated to occur later this year and is subject to the satisfaction of certain closing conditions. As such, the Company is not able to disclose certain information relating to the business combination, including the preliminary fair value of assets acquired, liabilities assumed, and the final purchase price allocation. In connection with its entry into the merger agreement, on July 27, 2026, the Company entered into a debt financing commitment letter with Goldman Sachs Bank USA, pursuant to which the bank committed to provide the Company with debt financing in an aggregate principal amount of up to $700.0 million in the form of a 364-day senior secured bridge loan facility, subject to customary conditions. Subject to market conditions and other factors, the Company may fund a portion of the purchase price through one or more bank financing or capital markets transactions in lieu of all or a portion of the bridge facility.
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