EQS-Adhoc: Nemetschek SE to Acquire GoCanvas to further Accelerate Digitalization in Construction Industry
EQS-Ad-hoc: Nemetschek SE / Key word(s): Mergers Acquisitions/Takeover Ad hoc Announcement
Munich, June 6, 2024 –The Nemetschek SE (ISIN 0006452907), a leading global provider of software solutions for architecture, engineering, construction and operations (AEC/O) and media industries, today announced that it has signed a definitive agreement to acquire all shares in GoCanvas Holdings, Inc., headquartered in Reston, Virginia, USA. GoCanvas is a leading provider of field worker collaboration software that digitizes traditionally paper-based processes, simplifies inspections, improves safety, and maximizes compliance with more than 300,000 active users worldwide in the first quarter of 2024. The Nemetschek Group´s Build Segment offers subscription and SaaS products that simplify customers’ jobs and connect openly with other AEC/O solutions and platforms. GoCanvas fits excellently in this strategy by offering flexible cloud and mobile field worker solutions that help customers efficiently collect real-time data, collaborate across worksites, make data-driven business decisions, and replace paperwork with smart, simple workflows. GoCanvas was founded in 2008 and has more than 300 employees with locations in the US, Canada, Australia and South Africa. With its strong Annual Recurring Revenue (ARR) growth of around 20% in recent years, GoCanvas generated an ARR of USD 67 million and an operating margin still below the Nemetschek Group average in 2023. GoCanvas’s growth is expected to stay at the level of around 20% in the comings years with an increase in operating margin resulting from operational leverage, synergies and economies of scale. The purchase price (on a cash-/debt-free basis), represents a 2023 ARR multiple of around 11.5x based on the 2023 ARR. Transaction financing will be provided by Nemetschek’s own cash resources and existing credit facilities. The acquisition is expected to close in summer 2024 and is subject to customary regulatory approval and closing conditions. Until the transaction closes, each company will continue to operate independently. After closing, GoCanvas CEO Viyas Sundaram and his team will join the Nemetschek Group. More details related to the transaction will be disclosed after closing of the acquisition. Contact: Stefanie Zimmermann VP Investor Relations Corporate Communication NEMETSCHEK SE Konrad-Zuse-Platz 1 81829 Munich P: +49 89 540459-250 M: +49 175 7211197 End of Inside Information
06-Jun-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Nemetschek SE |
Konrad-Zuse-Platz 1 | |
81829 München | |
Germany | |
Phone: | +49 (0)89 540459-0 |
Fax: | +49 (0)89 540459-444 |
E-mail: | investorrelations@nemetschek.com |
Internet: | www.nemetschek.com |
ISIN: | DE0006452907 |
WKN: | 645290 |
Indices: | MDAX, TecDAX |
Listed: | Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1919043 |
End of Announcement | EQS News Service |
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1919043 06-Jun-2024 CET/CEST
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