Oracle to buy construction collaboration software maker Aconex for $1.2B in cash
Summary
Construction projects consist of many moving parts, including multiple contractors and suppliers, complicated building codes and piles of paper documents, and managing everything can be a costly, time-consuming nightmare.The company claims 5.5 million project users, who can manage and communicate about building progress, documents, safety checklists and other issues on desktops or mobile devices.Oracle says Aconex will complement its cloud-based construction software, which focuses on project planning, management and payments, to create an end-to-end solution for builders.According to Crunchbase, Oracle has agreed to buy three other companies in 2017 so far: API design platform Apiary , developer tools startup Wercker and Moat , which measures ad engagement.That’s a small number, however, compared to Oracle’s acquisition spree last year, when it bought nine companies, including NetSuite for $9.3 billion and Textura.
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