Mixed feelings here.
On the one hand, Oracle has a large portfolio of "enterprise" software. Aconex is an obvious fit in that space, filling a gap that I'm sure Oracle would love to fill.
On the other hand, as others have said, there was (still is) very strong long term growth potential. Selling out now seems to be a short sighted move. There's value in the offer, in that it locks in some solid profit for me (bought in around the four dollar mark), and soaks up a fair whack of carried capital losses (so the fact that it's less than twelve months is, for me, neither here nor there), but I'd much rather hold for the long term.
I suspect the deal will end up going through, as the premium to the price prior to the offer is just too great for the institutional holders to pass up. The only thing that will stop it is if a counter offer comes in (SAP is an obvious candidate in this space; I don't see Microsoft moving in, though I could be wrong).
As for buying Oracle - I wouldn't. Whilst they have a strong enterprise presence, they're also very well known for gouging on licensing to the maximum extent they can get away with; there are a lot of companies looking at getting out from under their thumb. I don't see their market share increasing. Holding, maybe, but not a significant increase. That's my opinion, mind, and you might disagree - take my words for what they're worth.
(Disclosure: I've worked professionally in IT for over twenty years, as a software developer, a systems administrator, and nowadays as a consultant. I know Oracle's business from that perspective.)
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