M&A Deal Summary

Nemetschek Acquires GoCanvas

On June 6, 2024, Nemetschek acquired software company GoCanvas from K1 Investment Management and River Cities Capital Funds

Acquisition Highlights
  • This is Nemetschek’s 10th transaction in the Software sector.
  • This is Nemetschek’s 4th transaction in the United States.
  • This is Nemetschek’s 1st transaction in Virginia.

M&A Deal Summary
Date 2024-06-06
Target GoCanvas
Sector Software
Buyer(s) Nemetschek
Sellers(s) K1 Investment Management
River Cities Capital Funds
Deal Type Add-on Acquisition

Target

GoCanvas

Reston, Virginia, United States
GoCanvas is a mobile platform that makes it simple for any business to automate how work is done, replacing outdated processes and expensive paperwork. The GoCanvas App works on all smartphones and tablets, helping companies easily collect information across their organization, share it instantly with others and gain real-time insights on their business operations. GoCanvas was founded in 2008 and is based in Reston, Virginia.

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Buyer(S) 1

Buyer

Nemetschek

Munich, Germany
Category Company
Founded 1963
Sector Software
Employees3,436
Revenue 852M EUR (2023)
DESCRIPTION

Nemetschek is a provider of software solutions for architecture, engineering, construction, media, and entertainment markets worldwide. Nemetschek was founded in 1963 and is based in Munich, Germany.

DEAL STATS #
Overall 12 of 12
Sector (Software) 10 of 10
Type (Add-on Acquisition) 12 of 12
State (Virginia) 1 of 1
Country (United States) 4 of 4
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-11 Axxerion Facility Services B.V.

Heteren, Netherlands

Axxerion is a Dutch supplier of complete SaaS solutions for IWMS, Real Estate, and general business automation software, with offices in Heteren and Eindhoven. Axxerion was the first Dutch supplier of complete SaaS solutions in, among other, an IWMS form. Axxerion’s solutions are developed specifically for the areas of Facility & IT Management, Property Management, and Corporate Software. Clients can easily adapt Axxerion’s cloud-based software to their business processes and only pay for what they actually use. Axxerion is used intensively, every day, by hundreds of organizations, such as corporate service providers, government agencies, hospitals, and housing cooperatives. Axxerion has a strong and growing client base and is expanding internationally by opening sales offices worldwide. Because Axxerion operates a pay-per-use structure, the software is suitable for both small organizations and large businesses.

Buy -

Seller(S) 2

SELLER

K1 Investment Management

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2011
Size Small
Type Sector Focused
DESCRIPTION

K1 Investment Management, LLC is a West Coast US-based private equity firm investing in high-growth private companies across North America. The Firm has a special interest in enterprise software companies and looks to provide meaningful strategic and operational guidance when working with portfolio companies. K1 Investment Management was established in 2011 and is headquartered in El Segundo, California.

DEAL STATS #
Overall 11 of 11
Sector (Software) 5 of 5
Type (Add-on Acquisition) 4 of 4
State (Virginia) 1 of 1
Country (United States) 9 of 9
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-30 AppLearn

Manchester, United Kingdom

AppLearn is a system integrator, implementing HR systems for world-leading organizations. AppLearn created ADOPT a purpose-built Digital Adoption Platform (DAP) designed to support complex, large-scale change such as HCM, CRM, and ERP transformation projects. AppLearn was founded in 2011 and is based in Manchester, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-05 Board Intelligence

London, United Kingdom

Board Intelligence is a provider of software and services to corporate boards. Board Intelligence was founded in 2010 and is based in London, United Kingdom.

Buy -
SELLER

River Cities Capital Funds

Investor Investor Investor Investor Investor

Category Venture Capital Firm
Founded 1994
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

River Cities Capital Funds is a growth equity investment firm focused on healthcare services and information technology companies. River Cities seeks to invest $5 to $15 million in companies with at least $5 million in revenue. The Firm generally targets companies that pursue large, established markets with disruptive, “better, faster, cheaper” solutions. River Cities Capital Funds was established in 1994 and is headquartered in Cincinnati, Ohio.

DEAL STATS #
Overall 10 of 10
Sector (Software) 1 of 1
Type (Add-on Acquisition) 8 of 8
State (Virginia) 1 of 1
Country (United States) 10 of 10
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-25 Cognitive Research

St. Petersburg, Florida, United States

Cognitive Research is a neuroscience clinical research organization (CRO) and cognitive assessment technology company, CRC works with sponsors, specialized clinical trial sites, and CNS experts to bring new drugs through rigorous testing to support FDA submissions and eventual market introduction. Cognitive Research was founded in 2016 and is based in St. Petersburg, Florida.

Buy -
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