Nemetschek SE to Acquire GoCanvas to Boost Construction Industry Digitalization

On June 6, 2024, Nemetschek SE (ISIN 0006452907) announced an agreement to acquire GoCanvas Holdings, Inc., a SaaS provider that enhances field productivity and safety through paperless data solutions in the construction sector. This acquisition aligns with Nemetschek’s strategy to integrate field data collection and collaboration tools into its Build & Construct Division.

GoCanvas, founded in 2008, has around 300 employees and operates in the US, Canada, Australia, and South Africa. With an Annual Recurring Revenue (ARR) growth of about 20%, GoCanvas achieved an ARR of USD 67 million in 2023. The acquisition aims to strengthen Nemetschek's presence in the US and provide GoCanvas with a platform for expansion in Europe and Asia-Pacific.

The transaction, expected to close in summer 2024, will be financed through Nemetschek’s cash resources and credit facilities. Post-acquisition, GoCanvas’s CEO Viyas Sundaram and his team will join the Nemetschek Group. Further details will be revealed upon the transaction's completion.