Press Release

DocuSign to Acquire AI Technology Provider Seal Software

March 3, 2020

London – March 3, 2020 - Cooley advised DocuSign on its agreement to acquire Seal Software, one of the leading contract analytics and artificial intelligence technology providers, for $188 million. Michal Berkner led the Cooley team.

The agreement 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. With the acquisition, DocuSign can integrate Seal's technology and value proposition more comprehensively.

"DocuSign is about digitally transforming the very foundation of doing business: agreements and agreement processes," said Scott Olrich, chief operating officer of DocuSign. "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.”

DocuSign helps organizations connect and automate how they prepare, sign, act on and manage agreements. Cooley has advised DocuSign since 2014 on a wide range of corporate matters, including its $723.7 million initial public offering in 2018 and acquisition of contract life cycle management software SpringCM.

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