Quorum Business Solutions Inc., a provider of software to companies in the energy industry, is exploring a sale amid a rebound in oil prices, the Wall Street Journal reported July 7.
Quorum, which was acquired by tech buyout firm Silver Lake in 2014, is working with investment bank Credit Suisse Group AG on the sale process, the Journal reported.
Brent crude, a global benchmark for the oil industry, has increased in price by around 19% in the past year.
Quorum offers software products that assist in areas including marketing, transportation and pipeline storage.
The Journal said that it is expected to generate roughly $43 million in EBITDA in 2018.
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