Integrated cloud applications and platform services provider Oracle Corp. (
Oracle) is to acquire cloud company Aconex. Oracle, a US-based multinational with headquarters in San Mateo, California, United States, offers a broad range of services including MySQL and Oracle NoSQL-based database solutions and ‘Big Data’ offerings. Acquiring Aconex is reported to have cost Oracle $1.19 Billion and news of the acquisition comes after the company submitted disappointing financial results resulting in a 6% drop in premarket trading last Friday.
Aconex, which has headquarters in Melbourne, Australia, was established in 2000. The company bills itself as offering the ‘#1 platform for digital project delivery’ and offers services that cater to “owners, contractors and their project teams in the construction, infrastructure, and energy and resources sectors”. Its platform is used by 70,000 organizations globally to manage projects valuing $1 trillion. It has 47 offices in 23 countries. Aconex’s offerings will be absorbed by Oracle to establish the "world's most comprehensive cloud offering for managing all aspects of construction projects".
“Delivering projects on time and on budget are the highest strategic imperatives for any construction and engineering organization,” explained Mike Sicilia, the SVP and GM, Construction and Engineering Global Business Unit, Oracle in a press release posted on the company’s website. “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,” added Aconex’s Founder and Chief Executive Officer Leigh Jasper in the same release. “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.”
Do you know of any other companies involved in acquisitions? Let us know the details. Add your comments below.
