Energy industry software provider Quorum explores sale: WSJ

(Reuters) – Quorum Business Solutions Inc., a provider of software to companies in the energy industry, is exploring a sale amid a rebound in oil prices, the Wall Street Journal reported Saturday.

Quorum, which was acquired by tech buyout firm Silver Lake in 2014, is working with investment bank Credit Suisse Group AG (CSGN.S) on the sale process, the Journal reported.

Brent crude LCOc1, a global benchmark for the oil industry, has increased in price by around 19 percent in the past year.

Quorum offers software products that assist in areas including marketing, transportation and pipeline storage.

The Journal said that it is expected to generate roughly $43 million in earnings before interest, taxes, depreciation and amortization in 2018.

Reporting by Carl O’Donnell; Editing by James Dalgleish

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