Quorum Software recently announced two major transactions that will result in the creation of the world’s largest software provider of business workflows focused solely on energy.
In a Feb. 15 company release, Quorum said it will merge with Aucerna, a globally trusted provider of integrated planning, execution and reserves software for the energy industry based in Calgary, Alberta. Both companies are backed by private equity firm Thoma Bravo.
The newly combined company, operating as Quorum Software, also entered into an agreement with TietoEVRY to acquire TietoEVRY’s entire oil and gas software business, which includes the leading Energy Components hydrocarbon management solutions and DaWinci solution for personnel and materials logistics.
Terms of the transactions were not disclosed.
The combination of Aucerna, Quorum and the TietoEVRY oil and gas software business will bring together highly complementary workflows, mission-critical technologies and unmatched global expertise. It will position Quorum as a global leader for energy software across the upstream, midstream and downstream sectors of the energy value chain.
Following the acquisition, Quorum will be the largest software provider with the broadest portfolio of solutions focused entirely on serving energy companies of any size across the globe, according to the company release.
The combined company will serve more than 1,800 energy customers across 55 countries. Headquartered in Houston, Quorum Software will have offices located throughout North America, Latin America, Europe, the Middle East and the Asia Pacific. Quorum will continue to have a significant presence in Calgary, the headquarters of Aucerna, and in Norway, the Energy Components/DaWinci software headquarters.
“Over the last 20 years, Quorum has become the leading innovator of software deployed by North American energy companies,” Quorum CEO Gene Austin said in a statement. “Today, Quorum is expanding the scope of our technology and expertise to all energy-producing regions of the globe. Customers everywhere will have access to a cloud technology ecosystem that connects decision-ready data from operations to the boardroom.”
Austin will continue to serve as CEO of the combined company. Wayne Sim, CEO and co-founder of Aucerna, will be appointed to its board of directors.
“Our three organizations complement each other—from the software that our great people design to the energy markets where we operate,” Sim said in a statement. "Our new company will be able to deliver value to our stakeholders, while accelerating the growth of our combined business and the energy industry's software transformation.”
Scott Crabill, a managing partner at Thoma Bravo, also added: “Quorum and Aucerna are industry leaders that have each spurred significant innovation and digital transformation in the energy industry. By combining these two fast-growing and highly complementary businesses with TietoEVRY’s oil and gas software business, the new Quorum will have significant global scale and an unparalleled product portfolio that meets nearly every need within the energy value chain. We look forward to continuing to work closely with Gene, Wayne and the Quorum team in this exciting next chapter of the company's growth story.”
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