DocuSign to buy Seal Software for $188 million

DocuSign, the electronic signature specialist, will acquire AI-assisted contract analytics firm Seal Software for $188 million in cash, DocuSign announced today in a press release.

“As the Agreement Cloud company, DocuSign is about digitally transforming the very foundation of doing business: agreements and agreement processes,” said Scott Olrich, DocuSign’s chief operating officer, in the press release. “We believe that AI will play a vital role in this transformation. And by integrating Seal into DocuSign, we can benefit from its deep technology expertise and its broad experience applying AI to agreements.”

In Spend Matters’ recent PRO series of predictions for this year, our post by analyst Nick Heinzmann nailed it:

“Speaking of great targets, we can’t help but think that DocuSign will be actively looking for inorganic growth options in 2020, and Seal Software might be an obvious choice given (DocuSign’s) previous $15 million investment.”

PRO subscribers can read the whole post here: “2020 Predictions for Contract Management: Where the CLM Market Is Going This Year and This Decade.”

Check back for more updates.

See below for more of Spend Matters’ coverage of Seal.