Aconex buys Conject for €65m, Seventure exits

Conject has revenues of €24.5m and EBITDA of €800,000 - the company claims to have recorded annual revenue growth of 18% over the last three years. For 2015, Conject achieved a gross margin of 73% and an EBITDA margin of 3%.

Aconex hopes that under its ownership, the Conject business can achieve 15-20% revenue growth over the next four years, with gross margin of 70-72% in the near term and 73-75% in the medium term. The transaction is expected to close on 31 March 2016.

Aconex, which is listed on the Australian Securities Exchange, expects the acquisition to expand its market penetration and user network throughout Europe. Aconex launched a placement to raise AUD 120m in gross proceeds through the issue of new shares in order to finance the acquisition.

Previous funding
Conject was the first investment of the digital department of Seventure in Germany in 2008, when Conject wanted to find a financial partner to support its growth. During its investment period, Seventure's financial contribution increased twice.

Conject made five acquisitions and Seventure supported the two latest: UK-based company BIW Technologies in 2010 and France-based Wapp6 in 2014.

Company
Founded in 2000 and based in Munich, Conject is a provider of enterprise and collaboration solutions to the construction and infrastructure markets in Europe. For project management, the company provides a cross-company collaboration platform that operates both on-premise and in the cloud. Conject also provides solutions for mobility, cost control, mobile inspections, and facility management. The company has 210 employees located in 12 offices in nine countries.

People
Aconex - Leigh Jasper (CEO).
Conject - Ralf Händl (CEO).
Seventure - Wolfgang Krause (venture partner).

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