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BRIEF-Aconex to acquire Worksite from Ares Project Management

Published 15/07/2015, 10:02 am
© Reuters. BRIEF-Aconex to acquire Worksite from Ares Project Management
ACX
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July 14 (Reuters) - Aconex Ltd ACX.AX :

* Announced an agreement to acquire worksite, provider of a software-as-a-service project cost management solution, from ares project management llc

* Says acquisition is valued at approximately A$6.5 million and is expected to close by the end of July 2015

* Acquisition expected to be moderately dilutive to EBITDA and npat for the next 24 months, before becoming accretive in subsequent years

* Will purchase intellectual property, assets of worksite for initial cash payment of A$3.0 million at close, and up to A$3.5 million in cash and Aconex shares in FY 2017

* Does not expect anticipated dilution to impact current public forecast of FY 2015 and cy15 financial results

* Source text for Eikon ID:nASXc3V6VY

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