Thoma Bravo-Owned Quorum Software and Aucerna to Merge and Acquire TietoEVRY’s Oil and Gas Software Business – Yahoo Finance

Thoma Bravo-Owned Quorum Software and Aucerna to Merge and Acquire TietoEVRY’s Oil and Gas Software Business – Yahoo Finance

Combined company to broaden and further diversify its software portfolio, creating the leading software provider to the energy industry

Quorum Software (“Quorum”), a world leader in digital transformation for the energy industry, today announced two major transactions that will result in the creation of the world’s largest software provider of business workflows focused solely on energy.

Quorum will merge with Aucerna, a globally trusted provider of integrated planning, execution and reserves software for the energy industry. The deal will combine two Thoma Bravo-owned industry leaders with a shared focus on driving digital transformation and complementary customer offerings.

Also announced today, the newly combined company, operating as Quorum Software, has 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.

Gene Austin will serve as CEO of the combined company, and Wayne Sim, CEO and co-founder of Aucerna, will be
Source…

Tech Innovation Science

Next Post

How a one-time Bay Area tech worker amassed $43,804.72 in rental debt - The Mercury News

Mon Feb 15 , 2021
How a one-time Bay Area tech worker amassed $43,804.72 in rental debt - The Mercury News