Transaction Enhances Software and Services Portfolio with the Industry Standard in Hydrocarbon Measurement Data Management
HOUSTON, March 19, 2019 – Quorum Software (Quorum), the leader in digital transformation for the oil and gas industry, today announced that it has completed the acquisition of Houston-based Coastal Flow Measurement, Inc. (Coastal Flow), a family of energy measurement services and software companies. This transaction includes Flow-Cal, Inc. (Flow-Cal), a subsidiary of Coastal Flow that provides gas and liquid measurement software purpose-built for the hydrocarbon measurement industry.
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. The acquisition of Coastal Flow and Flow-Cal expands and strengthens Quorum’s software and services portfolio with the long-time leader in measurement data management for natural gas and petroleum liquids.
“By integrating measurement data management with digitally enabled solutions that span the entire energy value chain, our combined company is uniquely positioned to help oil and gas companies adapt to changing operational and cost structures that are the new normal for the industry,” said Gene Austin, chief executive officer of Quorum. “Our joint customers and partners report seeing clear value in the acquisition. They believe our combined entities will drive industry innovation.”
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.
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