Francisco Partners to Acquire Quorum Software from Thoma Bravo
Francisco Partners has agreed to acquire Quorum Software, a big name in global energy software, from Thoma Bravo. The announcement pegged the deal as a strategic move to tap into Quorum’s 20-year run powering digital transformation in the energy industry, including upstream, midstream, and downstream. Financial terms of the deal, which is expected to close in the third quarter, were not revealed.
Quorum serves over 1,500 customers, ranging from emerging operators to global supermajors and NOCs, across 50 energy producing countries. Francisco Partners, with $50 billion in assets under management, specializes in partnering with technology and technology-enabled businesses, and fits into their more than 450 company investments. Thoma Bravo, a software-focused investor, acquired Quorum from Silver Lake in 2018 and grew it with add-ons like Aucerna and TietoEVRY’s oil and gas software.
“Quorum plays a critical role in the global energy industry, serving as a trusted strategic partner to over a thousand customers across the world,” said Mac Fountain, principal and Petri Oksanen, partner at Francisco Partners. “We are excited to welcome them to our portfolio, and we are eager to support their continued growth and success with our technology expertise and resources.”
Lincoln International and Jefferies LLC are serving as financial advisors to Francisco Partners. Citi is serving as exclusive financial advisor to Quorum and Thoma Bravo.
