Shareholders vote in favour of Aconex sale to Oracle

Company News

by Rachael Jones

Melbourne-based construction and engineering software provider Aconex (ASX:ACX) has announced that its shareholders have voted in favour of the proposed acquisition by Oracle.

Aconex will apply for its shares to be suspended from trading from the close today.

The $1.2 billion deal was announced by the US tech giant Oracle in December.

97 per cent of shareholders voted in favour of the resolution.

Aconex founder and CEO says the businesses are a great, natural fit and highly complementary in terms of vision, product, people and geography.

The scheme will come into effect on the 29th March 2018.

Shares in Aconex (ASX:ACX) are currently trading flat at $7.79.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.