Tuesday 03 March 2020

3 March 2020 - US-based DocuSign (NASDAQ: DOCU) has proposed the acquisition of Seal Software, a contract analytics and AI technology provider, for USD 188m in cash, the company said.

The acquisition has been approved by the board of directors of DocuSign and Seal, and by the stockholders of Seal. The acquisition is expected to close in the first half of DocuSign's fiscal year.

The news builds on the existing relationship between the two companies. DocuSign already resells Seal's flagship analytics and machine learning application as part of the DocuSign Agreement Cloud--its suite of applications and integrations for automating and connecting the entire agreement process.

DocuSign also made a strategic investment in Seal in March last year.

With the acquisition, DocuSign can integrate Seal's technology and value proposition more comprehensively across the Agreement Cloud, and therefore deliver greater value to companies looking to prepare, sign, act-on and manage the agreements that are critical to their business.

Seal Software said it has a natural synergy with DocuSign, and the companies will leverage AI expertise to help make the Agreement Cloud smarter.

Also, given the company's scale and expansive vision, becoming part of DocuSign will provide great opportunities for customers and partners.

Once the acquisition has closed, DocuSign will continue to sell Seal's analytics application. It will also integrate and leverage Seal's AI technology to augment DocuSign CLM, one of the market's leading contract lifecycle management solutions.

DocuSign helps organisations connect and automate how they prepare, sign, act on, and manage agreements. As part of the DocuSign Agreement Cloud, DocuSign offers eSignature as a way to sign electronically on practically any device, from almost anywhere, at any time.