Oracle Buys Aconex in Bid to Become AEC Leader >

Oracle Buys Aconex in Bid to Become AEC Leader
Michael Molitch-Hou posted on January 12, 2018 | 50 views

To expand its construction management portfolio, Oracle has made its second acquisition of cloud-based construction software so far. The software giant agreed to purchase Australian firm Aconex Limited for AUD$7.80 per share, adding up to a whopping USD$1.2 billion. With a price tag that high, the publically traded Aconex (ASX: ACX) appears to be a significant investment for the Oracle Construction and Engineering Cloud portfolio.

Aconex designs software for project collaboration that is capable of connecting owners, builders and other teams to access and manage project data and costs throughout a construction project. In 2014, Aconex released its Aconex Connected BIM product, which added building information management (BIM) to the Aconex platform. 

Aconex is one of only eight technology companies on the ASX worth over $1 billion, and its software has been used in projects valued at more than $1 trillion across 70,000 organizations in 70 countries. These customers include Bechtel, Marriott, Dubai Airport and AECOM, among others.

The acquisition of Conject in 2016, gave the company access to the European market, customers like international construction firm Mace, and a construction project cost management tool from Conject.

After releasing disappointing financial results and forecasts for its cloud computing products, Oracle’s shares have been…

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