ORACLE CORP BUYS AUSTRALIA ACONEX FOR $1.19 BILLION CASH - CALIPHATE MEDIA

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Thursday, 21 December 2017

ORACLE CORP BUYS AUSTRALIA ACONEX FOR $1.19 BILLION CASH



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Oracle (NYSE: ORCL) this week announced that it has entered into an agreement with Aconex Limited (ASX: ACX), a leading cloud-based solution that manages team collaboration for construction projects, for A$7.80 per share in cash. The transaction is valued at approximately US$1.2 billion, net of Aconex cash.
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The Aconex project collaboration solution digitally connects owners, builders and other teams, providing complete visibility and management of data, documents and costs across all stages of a construction project lifecycle. Aconex has been used in over $1 trillion in projects across 70,000 user organizations in over 70 countries.

The Oracle Construction and Engineering Cloud already offers customers the industry’s most advanced solutions for planning, scheduling and delivering large-scale projects. Together, Oracle and Aconex will provide an end-to-end offering for project management and delivery that enables customers to effectively plan, build, and operate construction projects.

“Delivering projects on time and on budget are the highest strategic imperatives for any construction and engineering organization,” said Mike Sicilia, SVP and GM, Construction and Engineering Global Business Unit, Oracle. “With the addition of Aconex, we significantly advance our vision of offering the most comprehensive cloud-based project management solution for this $14 trillion industry.”
“The Aconex and Oracle businesses are a great, natural fit and highly complementary in terms of vision, product, people and geography,” said Leigh Jasper, Founder and Chief Executive Officer, Aconex. “As co-founders of Aconex, both Rob Phillpot and I remain committed to the business and are excited about the opportunity to advance our collective vision on a larger scale, and the benefits this combination will deliver to our customers.”

The Board of Directors of Aconex unanimously recommends the transaction. The transaction is expected to close in the first half of 2018, subject to Aconex shareholder approval and certain regulatory approvals and other customary closing conditions.

ABOUT ORACLE
Oracle Corporation is an American computer technology corporation with headquartered in California. The company specializes primarily in developing and marketing databaser software and technology, cloud engineering system and enterprise softwares  In 2015, Oracle was the world second largest software company by revenues behind microsoft .

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Aconex started business in the year 2000 – It believed there was a better way for companies to deliver successful construction and engineering projects. At the time, construction was one of the few industries that still relied on paper. Each project generated a massive amount of it – correspondence and documents that needed to be distributed to dispersed teams, quickly and in a controlled manner.
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Aconex is now the most widely used online collaboration platform in the world for construction, infrastructure, and energy and resources projects. Aconex has helped manage more than US$1 trillion in capital projects across 70 countries, serving over 70,000 user organizations. Our shares are traded publicly on the Australian Securities Exchange (ASX) under the ticker code ACX and are included in the S&P / ASX 200 Index. 

Aconex allows owners, contractors, construction managers, EPCs, project managers and consultants to collaborate securely, efficiently and easily. Our 850+ employees are dedicated to helping project teams finish early and under budget. Together with our customers, we are transforming how project teams work together, increasing accountability and extending control so more gets done, faster.

 
On January 19, 2017, Oracle announced that it signed an agreement to acquire Apiary, which creates the most comprehensive API Integration Cloud by adding the leading API design and governance solution

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