Oracle announced that it has entered into an agreement with Aconex, a leading cloud-based solution that manages team collaboration for construction projects, for approximately US$1.2 billion.
The Aconex project collaboration solution digitally connects owners, builders and other teams, providing complete visibility and management of data, documents and costs across all stages of a construction project lifecycle.
Aconex has been used in over $1 trillion in projects across 70,000 user organizations in over 70 countries.
The Oracle Construction and Engineering Cloud already offers customers the industry’s most advanced solutions for planning, scheduling and delivering large-scale projects. 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.
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.