- Case Study
‘’We appreciated TDM’s long-term, stable support as shareholders. Their deep understanding of technology and growth companies, coupled with a long-term view, made for constructive and value adding investor relations.’’
LEIGH JASPER, FOUNDER AND CEO, ACONEX
Growth Story
Aconex is a global provider of construction management and collaboration software. Founded in 2000, it was a pioneer developing software products that streamlined and digitised what was traditionally a paper-heavy industry. Today, it remains the global market leader in its field.
Aconex listed on ASX (ACX) in 2014, during a time when Australian investors did not fully appreciate the SaaS businesses model. Our global view and previous SaaS experience allowed us to clearly understand the quality of their business model and their substantial global growth opportunity.
We felt strongly aligned to this innovative Australian business with global growth aspirations, and shared managements’ views on how big this business could be and the strategic value it could hold.
Aconex was acquired by Oracle in December 2017 for $1.6bn.
Our Ownership
In Aconex, we recognised the passion of CEO and Co-Founder, Leigh Jasper who possessed a bold long-term vision and who cared deeply about the culture of the business.
The strong alignment between Aconex’s vision, TDM’s investment philosophy and understanding of SaaS businesses meant we jumped at the opportunity to back them.
In the 3 years that TDM was a shareholder, Aconex’s management team executed exceptionally well, resulting in the share price increasing more than 4x our initial entry price.
