Quorum Acquires Award Winning Phoenix ETRM Software from Woodlands SolutionsFebruary 10, 2014
Feb. 10, 2014 – Houston, TX. Quorum Business Solutions, Inc. (Quorum), the leading provider of business information technology solutions for the energy industry, has completed its acquisition of the award winning energy trading and risk management (ETRM) software solution Phoenix ETRM from Houston-based Woodlands Solutions, LLC. Awarded Best Newcomer by Energy Risk in 2012, Phoenix ETRM and its innovative Phoenix Core help organizations with exposure to energy commodities to improve their operational efficiency, to better manage their exposures, and to demonstrably improve their control over operations.
This acquisition advances Quorum’s mission by expanding its already extensive software solution portfolio into multi-commodity energy trading and risk management (C/ETRM). Phoenix ETRM will augment Quorum’s portfolio of software solutions that manage operational, administrative, financial, and transactional business processes for energy companies. The addition of Phoenix ETRM will provide existing and prospective Quorum clients with the opportunity to source an even wider range of interrelated business applications from a single, reliable software provider. Quorum’s existing portfolio of energy marketing products provides industry leading physical marketing and logistics functionality that is an ideal complement to Phoenix ETRM’s robust trading and risk management capabilities. The combined offering uniquely positions Quorum in the ETRM arena to be the leader in both financial and physical energy marketing transactions.
Woodlands Solutions’ founders, Michael Muse and Stephen Wall, will join Quorum as part of the transaction. Their extensive ETRM subject matter expertise combined with Quorum’s long, successful track record of energy software product development, management, and ongoing maintenance ensures that Phoenix ETRM clients will enjoy a feature-rich software solution with a long lifespan. Quorum’s unique software life-cycle management leverages an active user group to ensure the product continues to meet evolving client preferences over time resulting in a strong track record of building software products into industry-leading enterprise solutions. Existing Phoenix ETRM clients will enjoy uninterrupted support with the combined operation.
Quorum offers its clients the option to utilize its QCloud™ hosted version via its SSAE16 certified Cloud services division for each of its proprietary products and will offer a hosted version of Phoenix ETRM in the near future.
About Phoenix ETRM product
Phoenix ETRM is a full-featured, front-to-back office energy trading and risk management solution used by companies with exposure to energy commodities to cost-effectively manage their energy commodity operations. Phoenix ETRM was developed using the latest industry-standard Microsoft technologies and methodologies and includes functionality supporting all aspects of energy commodity operations.
Phoenix ETRM was awarded the Energy Risk 2012 Best Newcomer of the Year award based on its innovative approach to managing energy commodity operations.
About Quorum Business Solutions, Inc.
Quorum Business Solutions, Inc. develops, implements, and supports software solutions for the oil & gas industry.
Quorum offers an integrated suite of business applications for companies that produce, gather, process, transport, store, distribute, and market crude oil, natural gas, NGLs, LNG, and wind-generated power. The Quorum suite includes software solutions that manage operational, administrative, financial, and transactional business processes for oil & gas. Products within the suite offer inherent integration to support data flow across the value chain, and are also capable of operating stand-alone.
Founded in 1998, Quorum employs over 400 staff operating out of Houston, Dallas, and Calgary. Quorum has ongoing relationships with over 185 clients, comprised of super-majors, independents, operators, and non-operating owners, including 25 Fortune 500 Companies. Throughout its 16 year history, Quorum has successfully completed over 975 software solution deployments.