REDWOOD SHORES (dpa-AFX) - Oracle (ORCL) said that it agreed to buy Aconex Limited (ACX.AX), cloud-based solution that manages team collaboration for construction projects, for A$7.80 per share in cash. The transaction is valued at about US$1.2 billion, net of Aconex cash.
The Board of Directors of Aconex unanimously recommends the transaction. 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.
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