I concur wholeheartedly. I feel that this is a true Aussie success story that is being sold too cheaply and far too early to an American giant who wants its way. I understand that the current BoD must be feeling all the pressure. I’m sure there is pressure from the bigger funds who don’t care about the company - and only care about their short term gains. I can also sort of understand why the current BoD could possibly want to throw in the towel. They have been doing a lot of hard work bringing Aconex to where it is today... and to see the Share Price languishing at $3, $4, $5 must have broken their hearts or at the very least disheartened even the most passionate founder. I know I would be very down if all the work I put in is also under appreciated by the market.
Perhaps they just want an easy way out now, and are finding comfort in the fact that a tech giant appreciates their hard work. I honestly also blame the shorters and fund managers who didn’t appreciate Aconex enough. Now we’re about to lose a stellar Aussie tech company... one which was poised to be a future blue chip like REA. There are so very few remaining, with most of the rest at unappealing (but understandable) valuations.
ACX Price at posting:
$7.63 Sentiment: Buy Disclosure: Held
