Quorum Software (Quorum), a Thoma Bravo portfolio company and a leader in digital transformation for the oil and gas industry, announced it has acquired Dallas-based Archeio Technologies, a leading provider of oil and gas document classification and smart search technology. The acquisition expands and strengthens Quorum’s software and services with a cloud-based document management tool built to help make oil and gas operations more secure, agile and compliant.
Founded in 2014, Archeio Technologies enhances Quorum’s solutions in the areas of oil and gas document management, data classification and enterprise search. Purpose-built for oil and gas, Archeio helps operators streamline transactions and back-office business processes. Using a taxonomy through intelligent text recognition, automation, and metadata tagging, Archeio has experienced strong customer growth from large, publicly-traded companies and independent operators looking to solve the unstructured data challenge.
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 software addresses a broad spectrum of energy companies’ needs, from operations to accounting, plant management and financial forecasting.
Kirkland & Ellis LLP was legal advisor to Quorum. Bell Nunnally was legal advisor to Archeio. Financial details of the acquisition were not disclosed.