Thoma Bravo-backed Quorum Software has acquired Ogsys, a provider of cloud-based oil and gas accounting software for small and medium-sized businesses. Ogsys helps oil and gas operators, interest owners, mineral companies and private equity firms manage their accounting needs in the oil and gas sector.
“Small and medium-sized oil and gas businesses are laser-focused on production, so they need a complete view into operations,” says Ogsys co-founder Chuck Blanton. Ogsys claims that its software "addresses a technology gap."
Quorum offers software to about 80 percent of the largest oil and gas producers in the U.S. Software developers are appealing to investors, particularly in the energy sector, as companies are relying on technology to improve operations. Earlier in 2019, Quorum announced plans to buy Coastal Flow Measurement Inc., a provider of gas and liquids measurement, analytical services and software resources to the energy industry, and Genstar Capital-backed Drillinginfo bought Cortex. The latter is a software provider to the energy sector. Kirkland & Ellis advised Quorum and Holland, Johns & Penny LLP advised Ogsys.
Read the article on the Mergers & Acquisitions website here.