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Cross-border team advises acquisition of Aconex

Cross-border team advises acquisition of Aconex

The US and Australian teams of an international firm have advised Oracle Corporation on a big-ticket deal.

Firms: Hogan Lovells (Oracle Corporation); Undisclosed (Aconex Limited)

Deal: Oracle Corporation (Oracle) has agreed to acquire Aconex Limited (Aconex) in Australia.

Value: $1.6 billion

Area: M&A

Key players: Hogan Lovells US-based partner Keith Flaum led the deal. The Australian transaction team was led by partners Tim Lester and Matt Johnson.

Deal significance:

A statement from Hogan Lovells, who advised Oracle on the deal, said the acquisition will create the world’s most comprehensive cloud offering for managing all aspects of construction projects across the globe.

Aconex is a global cloud-based solution that manages team collaboration for construction projects around the world. Founded in 2000, Aconex is based in Australia and has 50 offices in 30 countries around the world.

Mr Lester and Mr Johnson said in a joint statement: “Our ability to seamlessly support amazing global giants such as Oracle operating as a single cohesive team across the globe is second to none and points to the real difference that Hogan Lovells in Australia offers.”

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.

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