Nemetschek Group Acquires GoCanvas to Boost Digitalization in Construction Industry
The Nemetschek Group, a global software solutions provider for AEC/O and media industries, has announced the acquisition of GoCanvas Holdings, Inc. based in Reston, Virginia. GoCanvas is known for its field worker collaboration software that digitizes paper-based processes, simplifies inspections, enhances safety, and ensures compliance with over 300,000 active users worldwide.
The acquisition aligns with Nemetschek’s Build Segment strategy of offering subscription and SaaS products that streamline customer operations and integrate with other AEC/O solutions. The addition of GoCanvas’s cloud and mobile field worker solutions will enable customers to collect real-time data efficiently, collaborate across worksites, create digital checklists, and make data-driven decisions.
The partnership between Nemetschek and GoCanvas will create synergies in technology, customer base, and regional sales, bolstering the Subscription/SaaS business model transition. The combined expertise will establish a unique construction ecosystem that caters to the needs of field workers in various sectors such as construction, manufacturing, and energy.
The acquisition is expected to open up growth opportunities for both companies, with GoCanvas expanding its presence in Europe and Asia-Pacific while strengthening Nemetschek’s position in the US market. The collaboration aims to deliver enhanced productivity, efficiency gains, safety measures, and improved collaboration to field workers.
GoCanvas CEO, Viyas Sundaram, expressed excitement about joining the Nemetschek Group and leveraging the partnership to accelerate growth and offer solutions to a wider customer base. The acquisition is set to enhance the overall value proposition for customers, providing them with advanced functionalities and sustainable solutions.
With a focus on innovation and growth, GoCanvas has experienced significant ARR growth in recent years and is expected to maintain this momentum in the future. The transaction is scheduled to close in the summer of 2024, subject to regulatory approval and closing conditions. Upon completion, the GoCanvas team will integrate into the Nemetschek Group, further strengthening its position in the industry.
About the Nemetschek Group:
The Nemetschek Group is a leading provider of software solutions for digital transformation in the AEC/O and media industries. With a focus on optimizing workflows and driving new technologies, the company aims to increase productivity and sustainability in construction and infrastructure projects.
About GoCanvas:
GoCanvas is dedicated to simplifying inspections, digitizing paper-based processes, and improving safety for businesses through its mobile and cloud solutions. Trusted by thousands of companies, GoCanvas aims to streamline operations and deliver high-quality results.
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