Calgary, Alberta (October 3, 2019) Vela Software Group (“Vela”), an operating group of Canadian public company Constellation Software Inc. (TSX:CSU) is pleased to announce it has acquired the MOSAIC Business Unit from Quorum Business Solutions (“Quorum Software”) Inc.
The backing of Vela enables a new phase of growth for MOSAIC through access to a broad pool of management and software development competencies. Vela’s permanent ownership model, strong financial position, and industry specific expertise will ensure that MOSAIC remains a trusted provider of Oil & Gas Economics, Reserves and Budgeting software. The current MOSAIC team will continue to develop this industry-leading application, deploy solutions projects, as well as train and support its users.
“We are very pleased to bring MOSAIC into the Vela family. MOSAIC offers a well-established solution suite that is used by many of North America’s leading Oil and Gas Producers,” said Gabe Czegledy, Senior Vice President, Portfolio Manager at Vela. “We look forward to combining MOSAIC’s industry knowledge and expertise with the presence and strength of the Vela group in order to provide customers with industry-leading solutions.”
About Vela. Vela is a global provider of software solutions to several vertical industries. As an Operating Group of Constellation Software, Vela acquires, manages, and builds specific software businesses which provide specialized, mission-critical software solutions. Vela companies invest in becoming leaders in their industries and to better serve their customers. We help companies improve their operations, grow through organic initiatives, and seek acquisitions that can strengthen their market position.
About MOSAIC Software. MOSAIC is an industry leading integrated petroleum economic, decline analysis, reserves management and budgeting solution. MOSAIC enables oil and gas companies to achieve greater standardization, faster execution, higher data confidence, and improved productivity – from projects and properties through to corporate reporting. MOSAIC has offices in Calgary and Houston and will now rely on Vela’s existing international locations to provide a global support reach.
About Quorum Software
Quorum Software offers an industry-leading portfolio of finance, operations and accounting solutions that empower our customers to streamline operations that drive growth and profitability across the energy value chain. From supermajors to startups, from the wellhead to the city gate, energy businesses rely on Quorum. Designed for digital transformation, the myQuorum software platform delivers open standards, mobile-first design and cloud technologies to drive innovation. We’re helping visionary leaders transform their companies into modern energy workplaces. For more information, visit www.quorumsoftware.com.
