California based global e-signature technology company, DocuSign announced its intent to acquire one of the leading contract analytics and AI technology providers, Seal Software, for approximately $188 million. The deal will boost DocuSign’s capability in artificial intelligence (AI), which will lead to digital transformation.
After the transaction DocuSign will incorporate Seal’s technology and value proposition more comprehensively across the Agreement Cloud and it helps to deliver greater value to customers looking to prepare, sign, act-on and manage the agreements that are critical to their business.
California based Seal Software was founded in 2010. The company is one of the pioneers in AI-driven contract analytics. Its software and technology can rapidly search large collections of agreements by legal concepts; automatically extract critical clauses; quickly identify areas of risk and opportunity; and deliver actionable insights that help solve legal and business challenges.
In November 2019, DocuSign announced that it will extend Agreement Cloud for Salesforce. The company announced two new solutions that continue to build on its market-leading eSignature offering—this time in the generation and negotiation of agreements, and the management of the entire contract lifecycle. As per deal the new products join the existing DocuSign Agreement Cloud for Salesforce offerings—including DocuSign eSignature for Salesforce, the highly rated e-signature app on AppExchange that is used by thousands of Salesforce sales reps every day across the world. DocuSign also deepened partnership with Lone Wolf Technologies to enhance the existing integration between DocuSign Rooms for Real Estate and Lone Wolf’s zipForm Plus to improve real estate transactions.
DocuSign, headquartered in San Francisco, California, that allows organizations to manage electronic agreements and contracts. As part of the DocuSign Agreement Cloud, DocuSign offers eSignature technology on any device, from anywhere and at any time. At present the company has, more than 560,000 customers and hundreds of millions of users in around 180 countries use DocuSign to accelerate the process of doing business.