Shares of Aconex Ltd (ASX: ACX) have continued their dominant run over the last month, climbing a little over 21% to $6.25 today.

It has also been one of the ASX’s hottest shares over the last year, more than tripling in price, while they have gained almost 230% since their ASX debut in December 2014.

One-year price chart; Source: ASX

One-year price chart; Source: ASX

Unfamiliar to many investors, Aconex is a business that provides construction collaboration software via its Software-as-a-Service (SaaS) subscription platform.

Basically, it enables organisations around the world to collaborate across the lifecycle of construction projects, facilitating and enhancing tasks such as document management, workflows, field management and asset hand-over.

The company is growing quickly and offers solid margins which should improve as it continues to expand its client-base. It has also recently completed its acquisition of the Europe-based Conject Holding GmbH, which should improve its global reach. As an addition, the company also expects the acquisition to be “significantly accretive to Aconex earnings per share (EPS)” during the 2017 financial year.

Of course, acquisitions do introduce new risks that investors need to be aware of. As investors of Slater & Gordon Limited  (ASX: SGH) quickly discovered, companies may overpay on their acquisitions while the two existing businesses mightn’t integrate as effectively as first planned. However, acquisitions can also pave the way for new growth.

Unfortunately, however, it seems that many of the early gains have already been made. The company already boasts a market value of roughly $1.04 billion, despite reporting revenues of just $55.7 million and a net profit of $4.6 million during the latest half-year period.

Investors could still look to buy Aconex today, although I don't think it's a bargain. If Aconex is looking a little pricey to you as well, there is another great technology business you may want to consider instead. This relatively unknown technology share is growing rapidly and offers a fat, fully franked dividend! Best of all: this top stock idea for 2016 is yours FREE! Just click here, enter your email address and claim your free report - no payment or credit card required!

HOT OFF THE PRESSES: Motley Fool’s #1 Dividend Pick for 2017!

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you... And all you have to do to discover the name, code and a full analysis is enter your email below!

Simply enter your email now to receive your copy of our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2017.”

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our https://www.fool.com.au/financial-services-guide">Financial Services Guide (FSG) for more information.

Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.