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Oracle to buy Aconex for A$1.6B

Oracle Corp. said it has entered into a binding Scheme Implementation Deed with Aconex Ltd for A$7.80 per share in cash. The transaction is valued at an estimated A$1.6 billion, net of Aconex cash.

The board of directors of Aconex have recommended the transaction, which is expected to close in the first half of 2018, subject to Aconex shareholder and regulatory approvals and other customary closing conditions.

The Oracle and Aconex deal will provide an end-to-end offering for project management and delivery that allows customers to plan, build and operate construction projects.