Press release
DocuSign to make next bold move in AI with Seal Software acquisition
Pending acquisition of contract analytics pioneer to bring full power of AI to the Agreement Cloud SAN FRANCISCO, Feb. 27, 2020 /PRNewswire/ -- Reflecting the
About this update from Docusign, Inc.
[{"type":"text","content":"Pending acquisition of contract analytics pioneer to bring full power of AI to the Agreement Cloud\n SAN FRANCISCO, Feb. 27, 2020 /PRNewswire/ -- Reflecting the increasingly important role that artificial intelligence (AI) will play in the digital transformation of the agreement process, DocuSign (NASDAQ: DOCU) today announced its intent to acquire one of the leading contract analytics and AI technology providers, Seal Software, for $188 million in cash.\n\n \n \n\n \nThe 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. \nWith 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.\nFounded in 2010, Seal is recognized as one of the pioneers in AI-driven contract analytics. Its technology can rapidly search large collections of agreements by legal concepts (rather than just by keywords); automatically extract and compare critical clauses and terms side-by-side; quickly identify areas of risk and opportunity; and deliver actionable insights that help solve legal and business challenges.\n\"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. \"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.\"\nJohn O'Melia, Seal's chief executive officer, added that today's news both validates and extends the company's founding vision. \"Seal was built to make finding, analyzing, and extracting data from contracts simpler and faster,\" he said. \"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...