By Molly Burgess2019-03-20T16:09:00+00:00
Quorum Software, a leader in digital transformation for the oil and gas industry, has completed the acquisition of Houston-based Coastal Flow Measurement, Inc.
The transaction includes Flow-Cal, Inc., a subsidiary of Coastal Flow that provides gas and liquid measurement software purpose-built for the hydrocarbon measurement industry.
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 operation and cost structurers that are normal for the industry,” said Gene Austin, CEO of Quorum.
“Our joint customers and partners report seeing clear value in the acquisition. They believe our combined entities will drive industry innovation,” said Austin.
Quorum provides integrated solutions for its customers’ core processing demands across 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 accounting, plant management, and financial forecasting.
Financial details of the acquisition were not disclosed.
Taiyo Nippon Sanso Corporation (TNSC) has completed procedures for the acquisition of shares of Praxair’s European businesses.
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