Deals
Oracle Clinches A$1.56 Billion Deal to Buy Australia's Aconex
- Oracle offer of A$7.80 a share recommended by Aconex’s board
- Offer is more than four times Aconex’s IPO price from 2014
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Oracle Corp. agreed to buy Aconex Ltd., an Australian company that makes cloud-based collaboration software for construction projects, for A$1.56 billion ($1.19 billion) cash as it pushes deeper in to new markets to gain more customers.
The deal values Aconex at A$7.80 per share, 47 percent more than Friday’s closing price. Aconex shares surged 44 percent to A$7.63 at 11:09 a.m. in Sydney trading Monday.