Oracle has entered into an agreement with Aconex Limited, a cloud-based solution that manages team collaboration for construction projects. The transaction is valued at approximately $1.2 billion, net of Aconex cash.
The Aconex project collaboration solution digitally connects owners, builders and other teams, providing visibility and management of data, documents and costs across all stages of a construction project lifecycle.
The Oracle Construction and Engineering Cloud already offers solutions for planning, scheduling and delivering large-scale projects. With the addition of Aconex, Oracle says it 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 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.
More information about this announcement is available at www.oracle.com/aconex.