Nemetschek Group to Acquire GoCanvas to Enhance Construction Digitalization

Munich-based Nemetschek Group announced its acquisition of GoCanvas Holdings, a Virginia-based provider of SaaS solutions that digitize construction field work processes. The move aims to accelerate Nemetschek’s digitalization strategy in the construction industry.

GoCanvas simplifies data collection and reporting, promoting safety and compliance. It joins Nemetschek’s Build & Construct Division, bringing synergies in technology and customer bases. The acquisition aims to expand Nemetschek's reach in the U.S. while offering GoCanvas growth opportunities in Europe and Asia-Pacific.

Nemetschek's CEO, Yves Padrines, and GoCanvas CEO, Viyas Sundaram, highlighted the combined value set to benefit professionals across construction, manufacturing, and energy sectors through improved productivity and safety.

The transaction is expected to close in summer 2024, subject to regulatory approval. Financing will come from Nemetschek’s cash and existing credit facilities, with GoCanvas anticipated to join the group upon closure.