Aconex

Aconex is an Australian-origin enterprise software brand focused on collaboration, document control, and process management for complex projects. Its principal users are owners, developers, contractors, architects, engineers, consultants, suppliers, and subcontractors working across construction, infrastructure, power, mining, and oil and gas projects. Rather than functioning as a general office suite or a construction-equipment supplier, Aconex provides a shared project environment in which independent organizations can exchange controlled information while retaining their own permissions and responsibilities. The platform supports project correspondence, drawings, specifications, building information models, transmittals, approvals, workflows, field inspections, issue tracking, audit trails, and operational handover records. Its cross-company design addresses a recurring problem in major projects: important information is distributed among organizations that may use different systems, contractual processes, and document conventions. Aconex is intended to provide a traceable project record, reduce confusion over document versions, and make formal communications and approvals easier to locate. The company was founded in Australia in 2000 by Leigh Jasper and Robert Phillpot. The name originated as a contraction of “Australian Construction Exchange,” reflecting the founders’ initial interest in online construction collaboration and procurement. Market demand for web-based procurement was limited, so Aconex concentrated on online collaboration and project information management. It expanded into the United Kingdom by 2004 and subsequently developed operations across North America, Europe, the Middle East, Southeast Asia, and other regions. Aconex broadened its capabilities through product launches and acquisitions. Its product family came to include mobile access, field inspection, building information modeling, digital operation and maintenance manuals, interface management, and online bidding. In 2015 it acquired the Incite Keystone platform from CIMIC Group, and in 2016 it acquired German project collaboration provider Conject Holding GmbH. The company completed an initial public offering on the Australian Securities Exchange in December 2014 under the ticker ACX and became an ASX 200 constituent. Oracle agreed to acquire Aconex in December 2017 for A$7.80 per share in cash, valuing the transaction at approximately US$1.19 billion. Shareholders approved the transaction in March 2018, followed by approval from the Supreme Court of Victoria. Aconex subsequently became part of Oracle’s construction and engineering software portfolio. The Aconex name remains associated with Oracle’s cloud-based project collaboration and information-management offering, although Aconex no longer operates as an independent listed company.

Aconex was established in Australia in 2000 by Leigh Jasper and Robert Phillpot. The founders initially pursued construction collaboration and procurement services, naming the business after the concept of an Australian Construction Exchange. Because demand for web-based procurement was not initially strong, the company shifted its emphasis toward online collaboration and the management of project information. Its early product model addressed a structural problem in the construction and engineering industries. Major projects are usually delivered by a temporary network of legally independent organizations, including owners, contractors, design firms, consultants, suppliers, and specialist subcontractors. These participants need to exchange drawings, specifications, instructions, approvals, contracts, and other records, but they may not share the same internal systems. Aconex developed a software-as-a-service environment intended to let these organizations collaborate through a common project record while maintaining organization-level access controls. Aconex expanded internationally during the first half of the 2000s. By late 2004 it had established a presence in the United Kingdom and was extending its activities into Southeast Asia and the Middle East. Its international growth contributed to its recognition in the 2006 Australian Export Awards. In September 2008, US technology investor Francisco Partners provided A$107.5 million in private-equity investment. Aconex subsequently established a substantial North American presence and continued developing its global project software business. The company broadened its offering beyond core web collaboration. It introduced BidContender for online bidding in 2011, launched mobile access applications for iPhone and iPad in 2011 and 2012, and added Aconex Field for mobile inspections and issue management in 2012, with an Android version following in 2013. Aconex Smart Manuals, launched in 2013, addressed the preparation and exchange of digital operation and maintenance manuals at project handover. In 2014, Aconex introduced Connected BIM for building information modeling collaboration and Aconex Handover, a group of solutions covering digital manuals and ongoing asset-information management. By 2014, the company stated that it had supported projects with an aggregate value exceeding A$800 billion and operated through more than 40 offices worldwide. It completed its initial public offering on 9 December 2014 and was listed on the Australian Securities Exchange under the symbol ACX. The company later expanded through acquisitions, buying the Incite Keystone platform from CIMIC Group in August 2015 and acquiring Germany-based Conject Holding GmbH for A$96 million in March 2016. Oracle agreed on 17 December 2017 to acquire Aconex at A$7.80 per share in cash. The deal was valued at approximately US$1.19 billion. Aconex shareholders approved the takeover on 14 March 2018, and the Supreme Court of Victoria approved the scheme the following day. After completion, Aconex ceased to be an independent listed company and became part of Oracle’s construction and engineering software portfolio. Oracle continues to offer the technology under the Oracle Aconex name, linking it with broader cloud applications for capital projects, construction, engineering, and asset information management.

1. 2018Oracle transaction receives approvals

   Aconex shareholders approve the takeover and the Supreme Court of Victoria approves the transaction, ending Aconex’s independent public-company status.

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2. 2017Oracle announces acquisition

   Oracle agrees to acquire Aconex for A$7.80 per share in cash, valuing the business at approximately US$1.19 billion.

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3. 2016Conject Holding is acquired

   Aconex acquires Germany-based Conject Holding GmbH for A$96 million.

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4. 2015Incite Keystone is acquired

   Aconex purchases the Incite Keystone platform from CIMIC Group.

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5. 2014Aconex launches Connected BIM and completes its IPO

   The company adds BIM collaboration and handover capabilities, then lists on the Australian Securities Exchange under ACX on 9 December.

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6. 2013Smart Manuals and Android field access expand the platform

   Aconex launches Smart Manuals for digital handover documentation and extends Aconex Field to Android devices.

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7. 2012Aconex Field launches

   Aconex introduces a mobile solution for field inspections and issue management.

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8. 2011BidContender launches

   Aconex launches an online bidding network for construction procurement and tender collaboration.

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9. 2008Francisco Partners invests in Aconex

   US technology investor Francisco Partners provides A$107.5 million in private-equity investment.

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10. 2006Receives Australian Export Awards recognition

    The company receives an Emerging Exporter award for its international business development.

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11. 2004International expansion begins in the United Kingdom

    Aconex establishes a UK presence and begins expanding into Southeast Asia and the Middle East.

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12. 2000Aconex is founded in Australia

    Leigh Jasper and Robert Phillpot establish Aconex to pursue online construction collaboration and procurement services.

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Enterprise-grade, multi-organization project collaboration and information governance for large construction, infrastructure, engineering, and resource projects.

• Oracle Aconex platformEnterprise project collaboration and information management

  The core cloud platform provides a shared environment for project documents, drawings, communications, workflows, approvals, transmittals, audit trails, and other controlled records. It is designed for projects involving multiple independent organizations and supports web-based access across the project lifecycle.

• Aconex MobileMobile project collaboration2011

  A mobile extension of the Aconex collaboration environment, introduced for iPhone and iPad access. It enables project participants to review and exchange information away from desktop workstations.

• Aconex FieldConstruction field management2012

  A mobile field-management solution for inspections and issue tracking. It is intended to help site personnel capture field observations and connect them with the project’s broader information and workflow records.

• Aconex Smart ManualsDigital operations and maintenance handover2013

  A solution for compiling and collaborating on digital operation and maintenance manuals during project closeout. It supports the transfer of structured asset information from delivery teams to owners and operators.

• Aconex Connected BIMBuilding information modeling collaboration2014

  An extension of Aconex for managing BIM-related project collaboration and information. The offering is designed to connect model data and associated processes with the wider project record.

• Aconex HandoverProject handover and asset information management2014

  A suite of post-construction handover capabilities incorporating digital manuals and dynamic asset information. It addresses the transition from project delivery to ongoing operation and maintenance.

• BidContenderOnline construction bidding2011

  An online bidding network launched to support construction tendering and procurement interactions. It extended Aconex’s project network beyond document exchange into commercial bidding workflows.

• Interface managementIndustrial project coordination

  Aconex capabilities for identifying, recording, and resolving interfaces between project packages, contractors, and disciplines, particularly on complex oil and gas and infrastructure projects.

• 2017Oracle agrees to acquire AconexM&A

  Oracle sought to expand its cloud software portfolio for construction, engineering, infrastructure, and capital projects.

  What changed. Oracle agreed to acquire Aconex for A$7.80 per share in cash.

  Aftermath. The transaction was approved in March 2018 and Aconex became part of Oracle Construction and Engineering, ending its independent listed-company status.

  Transaction value. Approximately US$1.19 billion; A$7.80 per share (Announced 17 December 2017)

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• 2016Acquisition of Conject HoldingM&A

  Aconex used acquisitions to strengthen its European presence and expand its project collaboration offering.

  What changed. Aconex acquired Germany-based Conject Holding GmbH for A$96 million.

  Aftermath. The transaction expanded Aconex’s European operations and customer reach.

  Acquisition price. A$96 million (2016)

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• 2015Acquisition of Incite KeystoneM&A

  Aconex sought to broaden its construction information-management capabilities.

  What changed. The company acquired the Incite Keystone platform from CIMIC Group.

  Aftermath. The acquisition added technology and capabilities to Aconex’s construction software portfolio.

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• 2014Aconex completes Australian public listingOther

  After international expansion and growth in construction and engineering software, Aconex pursued access to public equity markets.

  What changed. The company completed its initial public offering and listed ordinary shares on the Australian Securities Exchange under ACX.

  Aftermath. Aconex became a publicly traded Australian software company and later entered the ASX 200.

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• 2000Shift from online procurement toward project collaborationStrategy

  The company initially pursued construction collaboration and procurement services, but market interest in web-based procurement was limited.

  What changed. Aconex concentrated product development and commercial expansion on online collaboration and project information management.

  Aftermath. The shift became the foundation of Aconex’s SaaS model and its focus on multi-organization construction and engineering projects.

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• 2018Aconex shareholders and court approve Oracle transaction

  Aconex shareholders approved Oracle’s takeover in March 2018, followed by approval from the Supreme Court of Victoria, enabling completion of the acquisition.

  M&A
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• 2017Oracle agrees to acquire Aconex

  Oracle announced an agreement to acquire Aconex for A$7.80 per share in cash, with the transaction valued at approximately US$1.19 billion.

  M&A
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• 2016Aconex acquires Conject Holding

  Aconex acquired Germany-based Conject Holding GmbH for A$96 million, strengthening its presence in European project collaboration software.

  M&A
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• 2015Aconex acquires the Incite Keystone platform

  Aconex purchased the Incite Keystone platform from CIMIC Group to extend its construction and project information capabilities.

  M&A
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• 2012Aconex introduces mobile collaboration and field products

  The company expanded its mobile offering with Aconex Mobile and introduced Aconex Field for mobile inspections and issue management.

  Product launch
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• 2011Aconex launches BidContender online bidding network

  Aconex introduced BidContender as an online network supporting construction bidding and procurement-related collaboration.

  Product launch
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1. Aconex
2. Oracle to Acquire Aconex
3. Oracle Completes Acquisition of Aconex
4. Aconex official website