Aconex Limited (ASX: ACX) was an ASX 200 listed public

Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...

n company providing mobile and web-based collaboration technologies for project information and process management (also sometimes described as

project management Project management is the process of supervising the work of a Project team, team to achieve all project goals within the given constraints. This information is usually described in project initiation documentation, project documentation, crea ...

or project extranet systems), on a

software as a service Software as a service (SaaS ) is a cloud computing service model where the provider offers use of application software to a client and manages all needed physical and software resources. SaaS is usually accessed via a web application. Unlike o ...

(SaaS) basis, to clients in the

construction Construction are processes involved in delivering buildings, infrastructure, industrial facilities, and associated activities through to the end of their life. It typically starts with planning, financing, and design that continues until the a ...

infrastructure Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and pri ...

power Power may refer to: Common meanings * Power (physics), meaning "rate of doing work" ** Engine power, the power put out by an engine ** Electric power, a type of energy * Power (social and political), the ability to influence people or events Math ...

mining Mining is the Resource extraction, extraction of valuable geological materials and minerals from the surface of the Earth. Mining is required to obtain most materials that cannot be grown through agriculture, agricultural processes, or feasib ...

, and

oil and gas A fossil fuel is a flammable carbon compound- or hydrocarbon-containing material formed naturally in the Earth's crust from the buried remains of prehistoric organisms (animals, plants or microplanktons), a process that occurs within geologi ...

sectors. On 17 December 2017, 

Oracle Corporation Oracle Corporation is an American Multinational corporation, multinational computer technology company headquartered in Austin, Texas. Co-founded in 1977 in Santa Clara, California, by Larry Ellison, who remains executive chairman, Oracle was ...

 agreed to purchase Aconex in a deal valuing the business at A$7.80 per share (US$1.19 billion). Shareholders approved the takeover bid on 14 March 2018; Supreme Court of Victoria approval was granted on Thursday, 15 March 2018. Oracle now offers Aconex solutions via its Oracle Aconex platform.

History

Aconex was founded in 2000 by Leigh Jasper and Robert Phillpot to offer construction collaboration and procurement management services (its name is a concatenation of Australian Construction Exchange).Wilkinson, P. (2005) ''Construction Collaboration Technologies: The Extranet Evolution'' Taylor & Francis, London. However, due to low market interest in web-based procurement, it focused on expanding its online collaboration services, growing domestic revenue rapidly during the first half of the 2000s. By late 2004, Aconex had established a presence in the UK market, and was expanding into other regions, including Southeast Asia and the Middle East. Its overseas activity helped it win the 'Emerging Exporter' award in the 2006 Australian Export Awards. In September 2008, Aconex secured an A$107.5m private equity investment from US-based technology investor

Francisco Partners Francisco Partners Management, L.P., doing business as Francisco Partners, is an American private equity firm focused exclusively on investments in technology and technology-enabled services businesses. It was founded in August 1999 and based in ...

. It has since established a substantial presence in North America. By 2014, Aconex had served construction and engineering projects with an aggregate value of more than A$800 billion, across all major geographic markets, from more than 40 offices worldwide. The company completed its initial public offering (IPO) of ordinary shares on December 9, 2014 and was listed on the Australian Securities Exchange (ASX) under the ticker code ACX. In August 2015, Aconex purchased the Incite Keystone platform from CIMIC group. In March 2016, Aconex acquired the Germany-based Conject Holding GmbH for A$96m. On 17 December 2017, Oracle bought Aconex for AUD 7.80 per share in cash.

Products / services

Aconex services include: * Construction project information and process management (managing processes, documents, drawings, building information models, communications, workflows, audit trails, and other project information online - both mobile and web access) * Construction field management (managing field inspections and issues from mobile devices) * O&M manuals (developing digital operation and maintenance manuals for post-construction handover to asset owner and dynamic management of asset information) * BIM (

building information modeling Building information modeling (BIM) is an approach involving the generation and management of digital representations of the physical and functional characteristics of buildings or other physical assets and facilities. BIM is supported by vario ...

) data and process management (accessing and managing BIM models at the object level for project management) * Interface management (identifying and resolving interface issues on oil and gas projects) In 2011, the company launched an online bidding network, branded BidContender. In 2011 and 2012, the company launched Aconex Mobile - mobile applications (iPhone and iPad) for access to the Aconex online collaboration platform. In 2012, the company launched Aconex Field - a mobile field inspection and issues management solution for the iPhone and iPad, and an Android version followed in 2013. Also in 2013, the company launched Aconex Smart Manuals - a collaboration solution for the post-construction handover of digital operation and maintenance (O&M) manuals. In 2014, the company launched Aconex Connected BIM - an extension of the Aconex platform for BIM project collaboration - and Aconex Handover - a suite of post-construction handover solutions that includes Smart Manuals and Dynamic Manuals, a mobile solution for asset information management.''Aconex Launches Dynamic Manuals for Mobile Handover'',

References

{{DEFAULTSORT:Aconex Software companies of Australia Software companies established in 2000 Construction organizations Project management software Oracle acquisitions 2017 mergers and acquisitions

History

Products / services

See also

References