Oracle Decided To Buy ASX 200 listed public Australian company Aconex Limited

Oracle Corporation , an American multinational computer technology corporation, headquartered in Redwood Shores, California is planning to refashion its business around internet-based products and it tries to gain more customers in the rapidly growing market.For this purpose oracle decided to buy Aconex Limited (ASX: ACX)  which is an ASX 200 listed public Australian company providing mobile and web-based collaboration technologies for project information and process management . So Oracle paid 1.19 billion dollors in cash to Aconex Limited .

Aconex provides the most widely used cloud-based, multi-company project collaboration solutions for construction and engineering.The deal values Aconex at $7.80 Australian dollar per share, 47% more than Friday’s closing price. Aconex shares rose to $7.63 Australian dollar at 11:09am in Sydney trading on Monday.

This deal also represent the second acquisition of oracle  of a cloud-based construction software maker so far. Last year, it purchased contract and payment management platform Textura for $663 million and combined it with its own construction management software, called Primavera, to form the Oracle Construction and Engineering Global Business Unit.

The transaction was one of two major U.S.-Australian technology deals unveiled on Monday, with Australian data centre provider Metronode receiving a A$1.04 billion ($791.2 million) bid from U.S. company Equinix Inc(EQIX.O).

Leigh Jasper, founder and CEO said in a statement that "The two companies are a great, natural fit and highly complementary in terms of vision, product, people and geography,we expect that Oracle’s continued investment in Aconex will deliver more functionality and capabilities at a quicker pace, as well as provide better integration and alignment with Oracle’s other product offerings.”

Aconex company are known for performing following tasks which includes Document Managemen , Project Control , Workflow Management , RFIs, Mail & Form, BIM Management , Quality & Safety, Bidding & Tender , Handover to O&M , Insights & Reporting , Construction Software .

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