Business & Tech

German Firm To Pay $770M For Reston Software Company: Reports

A Germany-based construction software company is set to acquire Reston's GoCanvas Holdings Inc., according to news reports.

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GoCanvas will retain all 300 of its employees, including 40 at its headquarters at 11911 Freedom Dr​. in Reston Town Center.
GoCanvas will retain all 300 of its employees, including 40 at its headquarters at 11911 Freedom Dr​. in Reston Town Center. (GoogleMaps)

RESTON, VA — The Nemetschek Group, a Munich, Germany-based construction software company, is set to pay $770 million to acquire GoCanvas Holdings Inc., pending regulatory review, according to news reports.

Headquartered in Reston, GoCanvas produces mobile apps and online forms that field workers use across the globe. K1 Investment Management, a private equity group in Los Angeles, purchased GoCanvas for $100 million in 2018, so they'll see a healthy return on their investment, according to the Washington Business Journal.

CEO Viyas Sundaram told the Washington Business Journal that GoCanvas will retain all 300 of its employees, including 40 at its headquarters at 11911 Freedom Dr. in Reston Town Center.

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