Oracle makes A$1.56b buyout offer for Australia's Aconex

Sydney

AUSTRALIA'S Aconex Ltd said on Monday that it had received a A$1.56 billion (S$1.61 billion), or A$7.80 in cash-per-share, buyout offer from US software major Oracle Corp, sending the target's share price up 45 per cent.

Aconex said in a statement that its directors unanimously recommended the offer, with shareholders of the cloud-based project management company scheduled to vote on the bid at a scheme meeting in March next year.