Nemetschek SE / DE0006452907

Nemetschek SE to Acquire GoCanvas to further Accelerate Digitalization in Construction Industry

EQS-Ad-hoc: Nemetschek SE / Key word(s): Mergers & Acquisitions/Takeover


06-Jun-2024 / 04:55 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Ad hoc Announcement

Nemetschek Group to Acquire GoCanvas to further Accelerate Digitalization in Construction Industry GoCanvas is a leading provider of Software as a Service (SaaS) solutions for enhancing productivity and safety through paperless collection, reporting and integration of field data in construction Perfect fit with Nemetschek’s Build & Construct Division portfolio strategy Complementary technology, customer base and regional sales split will create strong synergies and accelerate Subscription/SaaS business model transition 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.

The acquisition of GoCanvas will capture significant growth opportunities and technology synergies through further enhancing market and customer access. GoCanvas further strengthens Nemetschek Group’s positioning in the US while Nemetschek will provide GoCanvas a unique footprint to expand in Europe and Asia-Pacific. 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: [phone]
M: [phone]

End of Inside Information

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06-Jun-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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Language:	English
Company:	Nemetschek SE
	Konrad-Zuse-Platz 1
	81829 München
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
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