Quorum Software Acquires Archeio Technologies to Drive Operational Efficiencies in Oil/Gas.
M2 EQUITYBITES-June 21, 2019-Quorum Software Acquires Archeio Technologies to Drive Operational Efficiencies in Oil/Gas
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21 June 2019 - Texas, US-based oil and gas-focussed digital transformation provider Quorum Software has acquired Dallas, US-based Archeio Technologies, a provider of oil and gas document classification and smart search technology to expands and strengthens Quorum's software and services capabilities, the company said.
Terms of the transaction were not disclosed.
Quorum said Archeio is a natural fit into its portfolio offering a cloud-based document management tool built to make oil and gas operations more secure, agile and compliant.
The combination of Archeio and Quorum will increase the efficiency of workflows across the company's upstream solutions.
Quorum Software, a Thoma Bravo portfolio, offers an industry-leading portfolio of finance, operations and accounting software that empowers energy companies of all sizes to conquer their most complex business challenges.
Designed for digital transformation, the myQuorum software platform delivers open standards, mobile-first design and cloud technologies to empower innovation at the speed of thought.
Archeio Technologies provides an innovative way for oil and gas companies to manage and intelligently search well and land information. Archeio helps operators efficiently access, classify, and organise unstructured data and documents through services, automation, and its cloud-based information management platform.
Thoma Bravo, LLC is a private equity firm focussed on the software and technology-enabled services sectors.
With a series of funds representing more than USD 30bn in capital commitments, Thoma Bravo partners with a company's management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business.
Kirkland and Ellis LLP was legal advisor to Quorum. Bell Nunnally was legal advisor to Archeio.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jun 21, 2019|
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