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Merger to create 'World Market Leader'

Editorial Type: News     Date: 03-2016    Views: 1861      




Aconex, provider of a leading cloud and mobile collaboration platform for the global construction industry, is to acquire Conject Holding, a leading cloud and mobile collaboration service provider in Europe and other regions, for a total cash consideration of £65 million

The transaction was expected to close on or about 31 March 2016, subject to customary closing conditions, including approval by Germany's Federal Ministry of Economics and Technology.

"This acquisition will significantly expand our market penetration and user network throughout Europe, and will further consolidate our position as the leader, by revenue, in the global market for cloud-based construction collaboration solutions," said Aconex CEO Leigh Jasper. "Conject's customer base, business and culture are highly complementary to ours. Their footprint across Europe's largest construction and infrastructure markets - particularly Germany, the UK, France and Russia - will measurably strengthen our presence and further drive our global economies of scale by leveraging our existing infrastructure. We look forward to welcoming Conject's management and employees, integrating their operations and serving their customers."

With the close of this transaction, the merged company will be the world's market leader, by revenue, in cloud-based construction collaboration, said Dr Ralf Händl, CEO of Conject. "We have worked beside Aconex for many years, building the construction collaboration industry and helping our customers deliver successful projects. We respect the strength of the company's global customer base and industry-leading technology.

“Together, as one organisation, we can expand our penetration throughout the construction and infrastructure markets of Europe, the Middle East, Asia, and other regions,” he continued. “This business combination has the potential to accelerate the growth of our industry and deliver increasing value to our joint customers worldwide."
www.aconex.com

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