According to a press release, The Nemetschek Group (ISIN 0006452907), a leading global provider of software solutions for the AEC/O and media industries, today announced that it has completed the acquisition of GoCanvas Holdings, Inc., a leading provider of field worker collaboration software that digitizes traditionally paper-based processes, simplifies inspections, improves safety, and maximizes compliance.
This new development is a perfect fit for Nemetschek’s Build & Construct Division portfolio to create unique construction ecosystem. The combination of Nemetschek Group‘s existing capabilities in the Build & Construct segment with the leading cloud and mobile SaaS solutions for the paperless collection, reporting, and integration of field data with GoCanvas unlocks massive field worker opportunities in construction and several adjacent industries.
The complementary technologies, customer bases, and regional sales splits of GoCanvas and the Nemetschek Group will capture significant growth opportunities and lead to technology synergies through enhanced market and customer access along the entire AEC/O lifecycle. In addition, the acquisition strengthens Nemetschek Group’s positioning in the US even further while Nemetschek will provide GoCanvas a unique footprint to expand in Europe and Asia-Pacific.
GoCanvas, with its SaaS-only offering, will additionally further accelerate Nemetschek’s transition to a subscription- and SaaS-centric business model, which is one of company’s key strategic priorities.
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