SpaceX Looks to Reshuffle the Deck in the Enterprise Coding Market With Its $60 Billion Deal for Cursor
The deal adds a missing piece to the company's vertically integrated model at the software application layer.
Overview
With its historic IPO in the rearview mirror, Space Exploration Technologies (NASDAQ: SPCX), or SpaceX, turned its attention from rockets and mass drivers to coding tools. Last week, the company announced it will move forward with the $60 billion acquisition of Cursor, which is expected to close in the third quarter.
Details
Cursor is the developer of a popular AI-powered code editor that has seen rapid adoption within the software development community, recently reaching $4 billion in annual recurring revenue. While the revenue is noteworthy, the strategic value to SpaceX goes beyond a new income stream.
Source
Originally published at www.fool.com.
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