DocuSign, electronic signature solution, has acquired contract analytics and AI technology platform Seal Software in a $188m cash deal.
This deal builds upon the existing relationship between the two companies. DocuSign currently resells Seal’s analytics and machine learning application as part of its DocuSign Agreement Cloud, a suite of applications and integrations for automating and connecting the agreement process.
With the acquisition, DocuSign can better integrate Seal’s technology into its Agreement Cloud service, in order to deliver improved services.
Founded in 2010, Seal is an AI-powered contract analytics solution which enables users to easily search through large collections of agreements, automatically extract and compare critical clauses, identify areas of risk and opportunity and deliver actionable insights which solve legal and business challenges.
Following the integration, DocuSign will also integrate Seal’s technology into its contract lifecycle management solution. This will enable clients to automatically categorise clauses, extract key information and use this data to improve workflows.
Seal’s chief executive officer John O’Melia said, “Seal was built to make finding, analysing, and extracting data from contracts simpler and faster.
“We have a natural synergy with DocuSign, and our team is excited to leverage our AI expertise to help make the Agreement Cloud even smarter. Also, given the company’s scale and expansive vision, becoming part of DocuSign will provide great opportunities for our customers and partners.”
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