Aconex Is Oracle’s Latest Acquisition



Oracle’s offer to acquire Aconex

On December 18, 2017, Oracle (ORCL) announced its intent to acquire Aconex, an Australia-based (EWA) construction software developer, for 1.19 billion. This offer represents a 47.4% premium to Aconex stock’s closing price of $5.29 Australian dollars per share on December 15, 2017. Aconex’s board of directors has unanimously given its consent for the company’s acquisition. If Aconex gets shareholder approval and gets certain regulatory approvals, its acquisition is expected to close in the first half of 2018.
aconex share price journey

After receiving the offer from Oracle, Aconex stock surged more than 44% on December 18, 2017. The above graph shows various events that affected the company’s stock price.

Article continues below advertisement

Aconex could augment Oracle’s construction and engineering unit

Aconex’s specialty lies in providing cloud-based project management software that caters to infrastructure, real estate, and oil/gas construction projects. Its collaboration platform takes input from various departments, thus allowing builders, contractors, and project managers to share and collaborate on documents.

Aconex was formed in 2000 and was listed on the Australian Securities Exchange in December 2014. It now operates in 30 countries and claims to have managed over $1 trillion in construction projects. Aconex is expected to become a part of Oracle’s construction and engineering unit.


More From Market Realist