Dear Customers and Partners,
On December 17, 2017, Oracle announced that it has entered into an agreement to acquire Aconex (ASX:ACX), a leading cloud-based solution that manages team collaboration for construction projects. The transaction is expected to close in the first half of 2018, subject to Aconex shareholder approval and certain regulatory approvals and other customary closing conditions, at which time Aconex is expected to become part of Oracle’s Construction and Engineering Global Business unit.
The Aconex project collaboration solution digitally connects owners, builders and other teams, providing complete visibility and management of data, documents and costs across all stages of a construction project lifecycle. Aconex has been used in over $1 trillion in projects across 70,000 user organizations in over 70 countries.
The Oracle Construction and Engineering Cloud already offers the industry’s most advanced solutions for planning, scheduling and delivering large-scale projects. Together, Oracle and Aconex will provide an end-to-end offering for project management and delivery that will enable customers to effectively plan, build, and operate construction projects.
I am thrilled to welcome Leigh Jasper and Rob Phillpot, the co-founders of Aconex, and the entire Aconex team to Oracle Construction and Engineering Global Business Unit. Delivering projects on time and on budget are the highest strategic imperatives for our industry. With the addition of Aconex, we will significantly advance our vision of offering the most comprehensive cloud-based project management solution for the construction and engineering industry.
Oracle is committed to protecting and enhancing customer investments in the Aconex solution. With the Aconex acquisition, Oracle Construction and Engineering Cloud now offers customers an integrated, secure cloud solution for digital project management and delivery that connects all participants across the project lifecycle.
Oracle’s industry organizations maintain unique domain knowledge, specialized expertise and focused product investments, which currently includes more than 22,000 Oracle employees and over $700 million in annual R&D spend. This model has proven highly successful across several industries, and we look forward to bringing these same benefits to the customers of Aconex.
For more information, please visit www.oracle.com/aconex.
Thank you for your continued support.
Senior Vice President and General Manager, Oracle Construction and Engineering Global Business Unit
Cautionary Statement Regarding Forward-Looking Statements
This document contains certain forward-looking statements about Oracle and Aconex, including statements that involve risks and uncertainties concerning Oracle’s proposed acquisition of Aconex, anticipated customer benefits and general business outlook. When used in this document, the words “anticipates”, “can”, “will”, “look forward to”, “expected” and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Oracle or Aconex, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, the possibility thatthe anticipated synergies of the combined companies may not be achieved after closing, the combined operations may not be successfully integrated in a timely manner, if at all, general economic conditions in regions in which either company does business, and the possibility that Oracle or Aconex may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Oracle or Aconex.
In addition, please refer to the documents that Oracle files with the U.S. Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K and that Aconex files with the Australian Securities Exchange Ltd. (the “ASX”) on its Market Announcements Platform. These filings identify and address other important factors that could cause Oracle’s and Aconex’s respective operational and other results to differ materially from those contained in the forward-looking statements set forth in this document. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this document. Neither Oracle nor Aconex is under any duty to update any of the information in this document.
Oracle is currently reviewing the existing Aconex product roadmap and will be providing guidance to customers in accordance with Oracle’s standard product communication policies. Any resulting features and timing of release of such features as determined by Oracle’s review of the Aconex product roadmap are at the sole discretion of Oracle. All product roadmap information, whether communicated by Aconex or by Oracle, does not represent a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decision. It is intended for information purposes only, and may not be incorporated into any contract.