Quorum
Software (Quorum), a Thoma Bravo portfolio company and the leader in
digital transformation for the oil and gas industry, announced today
that it has acquired Dallas-based Archeio Technologies, the leading
provider of oil and gas document classification and smart search
technology. The acquisition expands and strengthens Quorum’s
industry-leading software and services with a cloud-based document
management tool built to make oil and gas operations more secure, agile
and compliant.
“This is a natural fit into our portfolio and gives us a variety of
opportunities to expand how we help our customers. The combination of
Archeio and Quorum will increase the efficiency of workflows across our
Upstream solutions,” said Gene Austin, chief executive officer of
Quorum. “We want to make it easier to find the information locked in
land, accounting or well files, whether that person is searching from
the field or the office, is a partner or interest owner, or is
performing diligence.”
Founded in 2014, Archeio Technologies enhances Quorum’s solutions in the
areas of oil and gas document management, data classification and
enterprise search. Purpose-built for oil and gas, Archeio helps
operators streamline transactions and back-office business processes.
Using a proven taxonomy through intelligent text recognition, automation
and metadata tagging, Archeio has experienced strong customer growth
from large, publicly-traded companies and independent operators looking
to solve the unstructured data challenge.
“The oil and gas industry is challenged to manage a complex system that
generates vast amounts of data, much of which is unclassified and often
not digitized,” said Rex Womble, the co-founder and CEO for Archeio. “By
joining the Quorum team, we can better help the industry progress in
modernizing the back-office and build out innovative solutions that
speed A&D processes as well as simplify the relationship with external
partners.”
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 innovative software
addresses a broad spectrum of energy companies’ needs, from operations
to accounting, plant management and financial forecasting. Quorum is the
preferred software provider to over 75% of the largest oil and gas
producers in the United States, and its technology powers 80,000 miles
of pipeline and accounts for 80% of all natural gas processed in the U.S.
Kirkland & Ellis LLP was legal advisor to Quorum. Bell Nunnally was
legal advisor to Archeio. Financial details of the acquisition were not
disclosed.
About Quorum Software
Quorum 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. From the field to the
back office, defying complexity is coded in our DNA and our software.
This unmatched experience is why Quorum is the choice of eight of the
largest public energy companies worldwide, 75 percent of LNG exporters
throughout North America and 80 percent of all natural gas processed in
the United States. 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. At Quorum,
we’re helping visionary leaders transform their business, and the energy
industry, for a digital world. For more information, visit quorumsoftware.com.
About Archeio Technologies
Archeio Technologies provides an innovative way for oil and gas
companies to securely manage and intelligently search well and land
information. Based in Dallas, Archeio helps operators efficiently
access, classify, and organize unstructured data and documents through
services, automation, and its cloud-based information management
platform. Founded in 2014, Archeio has a growing customer base that
includes large, publicly traded companies and independent operators. The
company’s software is currently used to manage information for thousands
of well and land assets across North America.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity firm focused on the software and
technology-enabled services sectors. With a series of funds representing
more than $30 billion 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. Representative past and present portfolio companies
include industry leaders such as ABC Financial, Blue Coat Systems,
Deltek, Digital Insight, Global Healthcare Exchange, Hyland Software,
Imprivata, iPipeline, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds,
SonicWall, Sparta Systems and TravelClick. The firm has offices in San
Francisco and Chicago. For more information, visit thomabravo.com.
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