Business Wire

Thoma Bravo-Owned Quorum Software and Aucerna to Merge and Acquire TietoEVRY's Oil and Gas Software Business

Share

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 ondriving 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 appointed to its board of directors.

"Over the last 20 years, Quorum has become the leading innovator of software deployed by North American energy companies," said Austin. "Today Quorum is expanding the scope of our technology and expertise to all energy-producing regions of the globe. Customers everywhere will have access to a cloud technology ecosystem that connects decision-ready data from operations to the boardroom."

"Our three organizations complement each other — from the software that our great people design to the energy markets where we operate," said Sim. "Our new company will be able to deliver value to our stakeholders, while accelerating the growth of our combined business and the energy industry's software transformation."

"Quorum and Aucerna are industry leaders that have each spurred significant innovation and digital transformation in the energy industry," said Scott Crabill, a Managing Partner at Thoma Bravo. "By combining these two fast-growing and highly complementary businesses with TietoEVRY’s Oil and Gas software business, the new Quorum will have significant global scale and an unparalleled product portfolio that meets nearly every need within the energy value chain. We look forward to continuing to work closely with Gene, Wayne and the Quorum team in this exciting next chapter of the company's growth story."

The combined company will serve more than 1,800 energy customers across 55 countries. Headquartered in Houston, Texas, Quorum Software will have offices located throughout North America, Latin America, Europe, the Middle East and the Asia Pacific. Quorum will continue to have a significant presence in Calgary, Alberta, the headquarters of Aucerna, and in Norway, the Energy Components/DaWinci software headquarters.

About Quorum Software

Quorum Software is the world's largest provider of digital technology focused solely on business workflows that empower the next evolution of energy. From emerging companies to supermajors, throughout every region of the globe, customers rely on Quorum's proven innovation and unmatched global expertise to streamline business operations and make data-driven decisions that optimize profitability and growth. Our industry-leading solutions are transforming energy companies across the entire value chain, helping visionary leaders evolve their organizations into modern energy companies. Visit quorumsoftware.com.

About TietoEVRY

TietoEVRY creates digital advantage for businesses and society. They are a leading digital services and software company with local presence and global capabilities. Headquartered in Finland, TietoEVRY employs around 24 000 experts globally. The company serves thousands of enterprise and public sector customers in more than 90 countries. TietoEVRY's annual turnover is approximately EUR 3 billion and its shares are listed on the NASDAQ in Helsinki and Stockholm as well as on the Oslo Børs. Visit https://www.tietoevry.com/.

About Thoma Bravo

Thoma Bravo is one of the largest and most successful private equity firms focused on the software and technology-enabled services sectors. With more than $73 billion in assets under management as of September 30, 2020, 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. The firm has offices in San Francisco and Chicago, with a planned expansion to Miami in the second half of 2021. For more information, visit thomabravo.com.

Contact information

Jenna Billings
jbillings@pancomm.com
978-618-8424

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

COVID-19’s Economic Pinch Drives More Nordic Enterprises Toward Business Process Automation for Competitive Edge5.3.2021 10:00:00 CETPress release

Large enterprises in the Nordics have been implementing business process automation over the last three years, and more organizations now see the urgency of adopting these technologies to stay competitive as COVID-19 strains the regional economy, according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm. The 2020 ISG Provider Lens™Intelligent Automation – Solutions and Services report for the Nordics finds banking, financial services and insurance companies have led the region in adopting business process automation, seeking higher productivity, cost savings and improved customer experience. Manufacturing, retail and other sectors are also embracing the technologies, which include conversational AI, natural-language processing and AI for IT operations (AIOps). “Early adopters of automation in the Nordics are stepping up digital transformation to gain an advantage when they need it most,” said Jan

International Fashion Designer Anna Chybisova Draws Major Investments Worth $9 Million for her Brand Maison d’Angelann5.3.2021 09:52:00 CETPress release

Following a series of successful market takeovers, Anna Chybisova takes another step towards success by securing another major investment for Maison D’angelann. The Gate Business Service, a private family office based out of the United Arab Emirates, has been announced as the latest investor to back Anna’s brand globally. After having invested $7 million late last year, Gate Business Service secures an additional $2 million worth of investment against a majority stake in Maison d’Angelann fashion brand. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210305005133/en/ Anna Chybisova, Fashion Designer & Owner, Maison d’Angelann (Photo: AETOSWire) Anna Chybisova’s designs and business acumen are the foremost reasons behind such heavy investments by the new partner. Reporting sales over $2 million within UAE alone and a sold-out Spring/Summer 2021 collection has strengthened the investor confidence. This growing success and custo

Xlife Sciences AG (XLS): Joint Venture With anfass Life Technologies5.3.2021 08:48:00 CETPress release

Xlife Sciences AG and Solothurn-based anfass Life Technologies AG have entered a joint venture. Hence, the jointly founded Quadira Biosciences AG has access to the 3D CoSeedis(TM) technology platform of abc biopply ag. This unique 3D cell technology enables the replication of human tissue for reliable testing and characterization of antibodies without animal testing. Xlife's technology platform for the development of antibodies will be used even more efficiently. As of today, Xlife Sciences AG has already identified 30 compounds with blockbuster potential with its antibody screening platform. These therapeutic antibodies have already shown to be safe and effective in humans. Xlife can modify these antibodies with utmost accuracy and increase the quality of the active ingredient. These are mainly advanced, highly potent antibodies with higher cytotoxic activity and improved side effect profile for cancer therapy. The target market potential of the pre-selected antibodies is in the range

Moody’s Analytics Wins IFRS 9 Solution Provider of the Year5.3.2021 08:30:00 CETPress release

Moody’s Analytics has won IFRS 9 Solution Provider of the Year in the 2021 Insurance Asset Risk Awards. It is the latest recognition for our capabilities in this space following wins for IFRS 9 – Enterprise Solution of the Year and IFRS 9 – ECL Modelling Solution of the Year at last year’s Risk Technology Awards. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304006204/en/ Central to our offering for insurers is the ImpairmentStudio™ for IFRS 9 solution, a cloud-based platform that brings together our award-winning economic scenarios, data, models, and enterprise software. Financial institutions use it to automate the credit loss impairment calculations mandated by the new IFRS 9 accounting standard. For insurers, these new financial reporting requirements call for much more granular data than was previously needed. The Moody’s Analytics offering helps them access and use all of the required data while managing and monito

C3.ai Digital Transformation Institute Announces Shell as New Industry Partner4.3.2021 20:00:00 CETPress release

The C3.ai Digital Transformation Institute (DTI) today announced that global energy company Shell is the newest industry partner to join the consortium of universities, national laboratories, and companies that make up the Institute. Shell’s Chief Scientist - Computation and Data Science Detlef Hohl will represent the company in the consortium. The DTI Industry Partner Program enables leading companies from around the world to engage with DTI researchers and activities and to contribute data sets that will be available for research after anonymization. Industry partners also are encouraged to engage with Institute researchers and collaborate on research projects as well as participate in DTI conferences. DTI recently released its second call for proposals to fund advanced research projects focused on applying digital transformation and AI to address energy and climate security. “Shell has established clear leadership in new energy, having laid out its ‘Powering Progress’ commitment to

Dole Launches “The Dole Way” Sustainability Campaign4.3.2021 19:22:00 CETPress release

Dole Food Company announced today the launching of an integrated sustainability campaign aimed at amplifying its commitment to the key enterprise-wide sustainability goals launched in 2020 under “The Dole Way.” As a leader in the produce industry for over 150 years, Dole believes in acting on its promise to increase sustainability, transparency, corporate responsibility and trust. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005912/en/ The Dole Way framework paves the way for further improvements in areas where Dole believes it can make the biggest positive impacts (Photo: Business Wire) “The Dole Way” campaign kicked-off with a live, internal event on February 25, led by Dole’s president and chief executive officer, Johan Linden, and will be sustained over the next several months through integrated earned and owned social media efforts. “The Dole Way” campaign illustrates a path of transformation that will recognize

Milliken & Company Appoints Cindy Boiter as Executive Vice President, Chemical Division President4.3.2021 18:00:00 CETPress release

Milliken & Company is pleased to announce Cindy Boiter has been promoted to executive vice president and president of Milliken’s Chemical Division. Effective March 15, she will step into the role currently held by David Moody as he transitions to a role outside of Milliken. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005823/en/ Cindy Boiter, newly announced executive vice president and president of Milliken's Chemical Division (Photo: Business Wire) “It is an exciting appointment for our company, as Cindy will become the first-ever woman division president at Milliken,” shares Halsey Cook, president and CEO for Milliken. “She is uniquely qualified to lead our chemical division thanks to her extensive experience in the division, the acquisitions she has completed and her embodiment of Milliken’s purpose.” Boiter joined Milliken’s Chemical Division in 2012 as marketing, strategy and business development director and p

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom