CONJECT: Aconex Ltd to grow European business through acquisition

Aconex Ltd (ASX:ACX), provider of cloud and mobile collaboration platform for construction industry, completed the acquisition of Europe-based Conject Holding GmbH.Conject, founded in 2000, is a provider of enterprise and project collaboration solutions to the construction and infrastructure markets in Europe.The acquisition is expected to enhance Aconex earnings per share (EPS) for the financial year ending 30 June 2017, excluding the amortisation of intangibles related to the acquisition and one-time transaction and restructuring costs.Conject was acquired for a total cash consideration of $97 million.The acquisition was funded by the placement of 23,076,924 Aconex shares at an issue price of $5.20 per share raising $120 million.The remaining funds will be used to fund one-time acquisition and integration costs and provide additional working capital for the Aconex group.Aconex's shares have grown substantially over the last one year by tripling its value from $2.04 to $6.25. Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.