Nemetschek Group Expands Digitalisation Efforts with GoCanvas Acquisition
The Nemetschek Group, a leading provider of software solutions for the AEC/O and media industries, has announced its plans to acquire GoCanvas Holdings, Inc. based in Reston, Virginia, USA. This strategic move aims to further accelerate the digitalisation of processes within the construction industry.
GoCanvas is known for its field worker collaboration software that transforms traditional paper-based workflows into digital processes. By offering cloud and mobile solutions, GoCanvas enables users to streamline inspections, enhance safety measures, and ensure compliance with regulations. The acquisition of GoCanvas aligns with Nemetschek Group’s commitment to offering innovative solutions that simplify tasks and improve connectivity within the AEC/O sector.
Yves Padrines, CEO of the Nemetschek Group, expressed enthusiasm about the acquisition, stating that GoCanvas complements the existing solutions within the Build Segment. This partnership is expected to strengthen the group’s position in the market and provide access to a rapidly growing segment of field workforces in construction and related industries.
The transaction will be funded through a combination of Nemetschek’s cash reserves and existing credit facilities. The acquisition is anticipated to be finalized by summer 2024, pending regulatory approval and other customary closing conditions. With this strategic move, the Nemetschek Group aims to enhance its offerings and drive digital transformation within the construction sector.