Media
The ASX is at risk of becoming less attractive to entrepreneurs because its clunky approach to founder share sales emits "smoke signals" and suspicion about timing and motives, top tech entrepreneurs and investors say.
When Oracle came knocking with a $1.6 billion bid for construction software company Aconex late last year, it wasn't the first time the local tech success story had fielded offers.
Aconex co-founder Leigh Jasper has hit out at traders who shorted the stock ahead of its $1.6 billion sale to Oracle, saying there needs to be more oversight and regulatory consequences for spreading false rumours.
At the Aconex shareholder meeting in March, tears flowed freely from board members, early investors and friends and family of founders Leigh Jasper and Rob Phillpot when the deal for the company to be acquired by US tech giant Oracle for $1.6 billion was given the green light.
There wasn't a dry eye in the house. It's not usually a phrase associated with shareholder meetings, but it's the best way to describe the emotion displayed at Wednesday's scheme meeting to vote on Oracle's $1.6 billion bid to buy construction software company Aconex.
Construction software company Aconex has been bolstered by strong growth in its international markets, led by the US, resulting in a 12.8 per cent jump in revenue for the first half to $86.9 million.
A family who started a chain of discount retail stores in Tasmania and a director of New Zealand telecommunications company Spark are among the big winners from Oracle's $1.6 billion acquisition of construction tech company Aconex.
Oracle's $1.6 billion takeover of Aconex – at a whopping premium of 47 per cent – crystallises the Melbourne company's status as one of our true global tech stars of the last 20 years.
Mike Cannon-Brookes has warned Australian fund managers to ignore Aussie tech firms at their peril, after construction software company Aconex announced a $1.6 billion acquisition offer from Oracle on Monday and sparked a brutal rout of short sellers who had attacked the stock.
Mike Cannon-Brookes has warned Australian fund managers to ignore Aussie tech firms at their peril, after construction software company Aconex announced a $1.6 billion acquisition offer from Oracle on Monday and sparked a brutal rout of short sellers who had attacked the stock.
