Combination adds innovative cloud-native land management to Upstream On Demand portfolio
HOUSTON — (BUSINESS WIRE) — October 5, 2020 — Quorum Software (Quorum), a Thoma Bravo portfolio company and the leader in digital transformation for the oil and gas industry, announced today that it has acquired Landdox, the leading innovator in cloud-first land technology. The acquisition brings together deep industry DNA and leading-edge architecture to empower energy companies to reimagine land management for the future.
“Over the last two decades, Quorum has become the de facto standard in enterprise land management,” said Gene Austin, chief executive officer at Quorum. “Where we excel in the breadth and depth of functionality for land management, Landdox shines at delivering accelerated innovation through cloud-native technologies and processes. Landdox aligns perfectly with, and in some areas already integrates with, our cloud-based SaaS applications for upstream, which means that we can deliver on the speed, power, and cost-savings potential of modern SaaS technologies quickly and comprehensively.”
A growing SaaS company, Landdox enhances Quorum’s capabilities through speed of innovation, adaptable business processes, and open software integration. Landdox’s cloud-native architecture enables customers to innovate faster in today’s rapidly changing world. Landdox includes self-service tools—customizable templates, user-defined provision and obligation tracking, and the ability to model any agreement or asset at scale— that make it easy to configure processes to adapt to the changing needs of the business. And finally, Landdox supports integration with a secure API that can be activated in minutes, without IT overhead or ongoing support.
Landdox will become a key component of Quorum Upstream On Demand, a true multi-tenant SaaS suite designed for upstream companies that need cost-effective solutions that are simple to deploy, easy to use, and do not require extensive IT resources to support. Upstream On Demand solutions include:
- Land Management – Buy, sell, and manage leases and agreements with integrated land management and GIS delivered in the cloud.
- Accounting – Accelerate answers for critical business decisions with purpose-built, cloud-based accounting for oil and gas.
- Well Lifecycle Reporting – Report drilling and completion operations, track field costs, and analyze performance with cloud-based well lifecycle reporting.
- Production Operations – Increase field productivity and decrease LOE with a single cloud-based solution for SCADA, field data, and production allocations.
- SCADA – Predict, prevent, and resolve issues faster with cloud-based software for real-time SCADA data, alarms, and well performance.
- Document Management – Accelerate productivity with cloud-based document management to store, organize, and access all oil and gas documents online.
Landdox will serve as the land management foundation for the next phase of Quorum Upstream On Demand, which more than 600 companies rely on to power their oil and gas business operations.
“Quorum’s Upstream On Demand multi-tenant SaaS journey started five years ago with the introduction of our Microsoft Azure-based production application,” said Tyson Greer, chief product officer at Quorum. “Over the last five years, we delivered other key upstream SaaS applications. And now finally, with the Landdox acquisition, we have the industry’s most complete suite of SaaS products that allows us to not only innovate and reimagine land management but upstream operations as a whole.”
“When we founded Landdox five years ago, Bob Gates and I started with a vision for reimagining the way energy and infrastructure companies manage their core assets,” said James Yockey, co-founder of Landdox. “In a short time, Landdox succeeded in creating a cloud-based application platform that’s easily customizable, intuitively designed, and delights customers as much as it expands their operational range,” continued Yockey. “By joining Quorum, we can accelerate and expand on this vision, modernizing end-to-end solutions for upstream oil and gas and beyond.”
“Congratulations to Quorum and Landdox on uniting their strengths through this acquisition!” said Kurt P. Kemmerly, chief customer officer at ThoughtTrace. Combining ThoughtTrace data with land system data improves the quality of information going into critical decisions, and we are excited to continue deepening our platform integrations to serve our combined customers better.”
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. Quorum is the preferred software provider to over 75% 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.
Kirkland & Ellis, LLP was legal advisor to Thoma Bravo. Reiter, Brunel & Dunn, PLLC was legal advisor to Landdox. 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.
About Landdox
Landdox is a growth-stage SaaS company that reimagines the way energy and infrastructure companies manage their core assets. Our flagship product is a cloud-based application that is easily customizable, intuitively designed, and delights customers as much as it expands their operational range. Landdox is scrappy and keenly focused on delivering such compelling software and services that customers switch to our platform and gladly grow with us. Learn more at landdox.com.
About Thoma Bravo
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $50 billion in capital commitments, Thoma Bravo partners with a Company's management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com.
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