Oil and gas software accounting provider sold

OGsys, a provider of cloud-based oil and gas accounting software for small and medium-sized businesses has a new owner.

The Fort Worth-based company has been acquired by Houston’s Quorum Software, a Thoma Bravo portfolio company which is considered to be a leader in digital transformation for the oil and gas industry.

Quorum’s SMB customers includes more than 200 small businesses while OGsys’s large customer base includes more than 600 upstream oil and gas companies.

No financial terms were disclosed in the announcement.

OGsys helps oil and gas operators, interest owners, mineral companies and private equity companies properly manage the accounting needs of the industry. OGsys not only expands Quorum’s Upstream On Demand with purpose-built oil and gas accounting software, but also addresses a technology gap in the marketplace for modernized, cloud-based accounting software.

Quorum professes that it is the preferred software provider to 80% 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.

%d bloggers like this: