Nemetschek Group to Acquire GoCanvas

Nemetschek Group (NEM.DE), a global provider of software solutions for the AEC/O and media industries based in Munich, Germany, has announced the acquisition of all shares in GoCanvas Holdings, Inc., a Reston, VA-based provider of field worker collaboration software. The financial terms of the deal were not disclosed.

The acquisition will enhance Nemetschek Group’s presence in the US market while offering GoCanvas the opportunity to expand its footprint in Europe and Asia-Pacific.

The acquisition will be financed through Nemetschek’s cash reserves and existing credit facilities. The transaction is expected to close in summer 2024, pending customary regulatory approvals and closing conditions. Until the acquisition is finalized, both companies will continue to operate independently. Post-acquisition, CEO Viyas Sundaram and his team will join the Nemetschek Group.

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