Aconex

Aconex is the Australian company specializing in software development for project management.

Aconex offers the online platform for effective and safe interaction between customers, contractors, builders, EPC contractors, project managers and consultants. The solution for joint work is used in construction, infrastructure, energy and resource projects, including in the project of expansion of the Panama Canal. By December, 2017 in the company more than 850 people work.

History

2017: Oracle buys Aconex for $1.2 billion

On December 18, 2017 it became known of Aconex sale to the American producer of the corporate software of Oracle for 1.56 billion Australian dollars (about $1.2 billion).

Counting on one stock Aconex the cost of the transaction is 7.8 Australian dollars that is 47% more than a quotation rate to closing of the Australian stock exchange on December 15, 2017. After the statement for sale of the stock Aconex rose in price for 45%.

Office in Bangalore

According to the statement of Oracle, it is going to execute all formalities concerning Aconex acquisition in the first half of 2018. The transaction was unanimously supported in Board of Directors of Aconex. Shareholder voting concerning sale of Aconex is planned for March, 2018.

The offer of Oracle in 7.8 Australian dollars represent a considerable award and high degree of confidence in the shareholder returns gained through payment of money and implementation of some conditions — the chairman of the board of directors of Aconex Adam Lewis said.

Oracle receives the operating platform which supports joint work of the geographically dispersed teams speaking several languages. It is expected that Aconex is easily integrated into business of Oracle and will add a packet of corporate solutions of the American company.^[1]

Notes