Quorum Software, a Hoston-based leader in digital transformation for the oil and gas industry, acquired OGsys, a Fort Worth- and Houston-based provider of cloud-based oil and gas accounting software for small and medium-sized businesses.
The amount of the deal was not disclosed.
Led by Chuck Blanton, president and co-founder, OGsys helps oil and gas operators, interest owners, mineral companies and private equity companies properly manage the accounting needs of the industry.
Quorum’s acquisition of OGsys complements its accounting solutions for mid-market and enterprise companies with upstream accounting software designed for growing businesses. The combination of the two companies will increase the value proposition for customers of both companies.
Quorum’s SMB customers, including more than 200 small businesses, will be able to extend their investments in land management, well lifecycle reporting and production solutions with accounting software designed for the SMB market.
OGsys’s large and loyal customer base, including more than 600 upstream oil and gas companies, gains access to Quorum’s integrated suite of software – Upstream On Demand.
Led by Gene Austin, chief executive officer, Quorum provides integrated solutions for its customers’ core processing demands across the upstream, midstream and downstream segments of the oil and gas value chain. The company’s portfolio of software addresses a broad spectrum of energy companies’ needs, from operations to accounting, plant management and financial forecasting.
It is a Thoma Bravo portfolio company.
FinSMEs
21/08/2019