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The Redwood Shores, Calif., software giant is spending $1.2 billion to acquire Aconex Limited, an Australian maker of cloud-based construction management software.
Oracle has offered up AU$1.6 billion to purchase an Australian company that provides cloud solutions for construction projects.
Aconex shares popped up more than 40 percent after the cloud collaboration company announced it had received a A$1.6 billion ($1.22 billion) acquisition offer from Oracle.
Oracle agreed to buy Aconex Ltd., an Australian company that makes cloud-based collaboration software for construction projects, for A$1.56 billion ($1.19 billion) cash as it pushes deeper in to new markets to gain more customers.
Oracle will pay $1.2 billion in cash to buy construction software developer Aconex.
Construction Dive put together a list of eight apps-- including Aconex Mobile-- to help construction managers expedite and track workflows.
A recent International Data Corp. forecast projects that spending on augmented and virtual reality (AR and VR) will grow from $9.1 billion this year to $17.8 billion in 2018.