oracle aconex acquisition

synopsis: Oracle, the world's largest enterprise software company, is to acquire Aconex, the #1 platform for digital project delivery that connects teams to build the world. Aconex Limited Aconex is a construction software developer that connects teams on construction and engineering projects through its online platform. Oracle’s interest in the construction industry started in 2008, with the acquisition of Primavera, continued with the 2016 addition of contract and payment management platform Textura and now, Aconex. Melbourne, Australia — Aconex Limited, a cloud-based solution that manages team collaboration for construction projects, entered into a binding Scheme Implementation Deed with Oracle for A$7.80 per share in cash. ... Aconex was the ideal acquisition for a company like Oracle… This online platform is widely used by project teams and companies to quickly interpret the reports, drawings, BIM models, schedules, contracts, tenders, etc. Before that, Oracle was solely a software company but after that, Oracle started making both hardware and software. Oracle will acquire all of Melbourne's shares – based on Aconex at $ 7.80 each, or a 47 percent premium at its closing price on Friday of $ 5.29. Aconex has … Prior to Aconex, Oracle acquired Textura in the middle of 2016. This is a listing of Oracle Corporation's corporate acquisitions, including acquisitions of both companies and individual products.. Oracle's version does not include value of the acquisition.. See also Category:Sun Microsystems acquisitions (Sun was acquired by Oracle). Textura specialized in providing cloud-based payment management services and billing software to the construction sector. Learn the highlights of what we’ve delivered over the past 6 months The transaction is valued at approximately US$1.2 billion, net of Aconex cash. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Oracle Corporation (NYSE:ORCL) will acquire Aconex Ltd, a cloud-based collaboration software firm headquartered in Australia, at a price of $1.19 billion as the enterprise software maker seeks to enhance its offering for the cloud computing market. It has been a long journey since Australia-based construction management software maker Aconex was acquired by Oracle last December in a $1.2-billion deal. This marks Oracle’s second acquisition of a cloud-based construction software firm. Admiration, apprehension, concern, excitement – SaaS construction collaboration vendors react to Oracle’s pitch to buy Aconex. Aconex Ltd Board Recommends Acquisition Proposal by Oracle The transaction is valued at approximately A$1.6 billion (US$1.2 billion), net of Aconex cash. Together, we share a passion to transform the industry. of 500 Oracle Parkway, Redwood City California 94065 (Oracle), a party to this deed solely for the purposes of clauses 5.12 and 16.12 Background 1 Aconex and the Buyer have agreed that the Buyer will acquire Aconex by means of a scheme of arrangement under Part 5.1 of the Corporations Act between Aconex and the Scheme Shareholders. Aconex Limited (ASX: ACX) provides the #1 cloud and mobile collaboration platform for the global construction industry. "The Aconex and Oracle businesses are a great, ... including statements that involve risks and uncertainties concerning Oracle's proposed acquisition of Aconex… Market reaction to Oracle’s Aconex acquisition announcement yesterday saw a predictable leap in Aconex’s share price on the Australian Securities Exchange. Lately Oracle has been refashioning its business around products that are subscription-based and offered via the internet. Aconex has been used in projects that totaled $1 trillion in projects across 70,000 organizations in over 70 countries. The acquisition would be Oracle’s second around the construction industry. Their platform connects owners, contractors and their project teams in the construction, infrastructure, and energy and resources sectors. US-based IT giant Oracle has announced it has offered to buy Melbourne, Australia-based Software-as-a-Service construction collaboration technology vendor Aconex, for Au$7.80 (Au$5.96) per share in cash, a deal valuing Aconex at approximately US$1.2 billion (c. Au$1.6bn, £0.9bn or €1.0bn).. Project cost control. ... Oracle completed the acquisition of Aconex on March 29, 2018. "The Aconex and Oracle businesses are a great, ... including statements that involve risks and uncertainties concerning Oracle's proposed acquisition of Aconex… The most recent acquisition made by Oracle is Aconex on December 17, 2017, which offers SaaS-based construction project management. Oracle acquired Primavera, a project portfolio management (PPM) software provider, in 2008, with the company’s applications being used in a wide range of industries, including construction, while added to this mix last year was Textura, acquired by Oracle for $663m. How Aconex fits into Oracle's project & asset lifecycle solutions; An update on the Oracle + Aconex acquisition and what it means for you; What's new with Oracle’s Aconex? Aconex told investors that it has entered into a binding scheme implementation deed with Oracle, under which the vendor will acquire 100 percent of the shares of Aconex for $7.80 per share. Oracle recently announced its intent to acquire Australian software company Aconex in an effort to boost its industry-focused cloud offerings.. In December 2017, it was announced that it was being acquired by Oracle for $1.2 billion. Announced earlier this week, the acquisition will fold the 17-year-old Aconex into Oracle's Construction and Engineering Cloud unit. The acquisition is expected to augment Oracle's current cloud management services for construction and engineering, a $14 trillion industry according to Oracle. UU Oracle will buy the ASX construction software provider Aconex in a $ 1.6 billion cash deal as it expands further into the cloud computing market. The acquisition will take place via AU$7.80 per share to be paid in cash, which Oracle said is a 47 percent premium on Aconex's closing price of AU$5.29 per share on December 15. Oracle agreed to buy Aconex, an Australian company that makes cloud-based collaboration software for construction projects, for the equivalent of $1.19 billion in … Oracle is back on the acquisition trail with a bid for project management collaboration software, Aconex.It has offered AU$7.80 per share in cash valuing the … PHOTO | FILE. REDWOOD SHORES, Calif., Dec. 17, 2017 /PRNewswire/ -- Oracle (NYSE: ORCL) today 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. Oracle's $1.6b Aconex takeover says a lot about Australian tech. This platform gives owners and contractors in the construction, infrastructure, and energy and resources sectors project-wide visibility and control between the many different organizations collaborating across their projects. Oracle Corporation is set to acquire Aconex Ltd., an Australian software company, in a deal valued at Sh125 billion ($1.2 billion) as the California-based computer technology giant intensifies its decade-long growth strategy of purchasing enterprise software companies. If Aconex gets shareholder approval and gets certain regulatory approvals, its acquisition is expected to close in the first half of 2018. Aconex makes digital collaboration and workflow software for managing construction projects. Oracle acquires Aconex Limited on 2017-12-17 for $1200000000. Based in Australia, Aconex is … The transaction is valued at approximately A$1.6 billion (US$1.2 billion), net of Aconex … Aconex reported revenue of $161 million in FY17; that makes the purchase price a 9.7 revenue multiple. Aconex revealed the acquisition bid in December 2017, with Oracle offering to buy 100 percent of the company's shares for $7.80 each, representing a 47 … In March 2018, the acquisition was completed, and Aconex is now part of the Oracle Construction and Engineering Cloud platform. The Aconex deal is Oracle’s second acquisition of a cloud-based construction software maker, following the purchase of contract and payment management platform Textura for $663 million last year. 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. Aconex is now part of Oracle’s Construction and Engineering product suite. Cloud services seem to be a key element for big companies like Oracle these days, and Aconex is not their first acquisition in this field. Chanticleer is Australia's pre-eminent business column. 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