Docusign, (NASDAQ: DOCU) a San Francisco, CA-based intelligent agreement management (IAM) company, acquired Lexion, a provider of AI-powered agreement management software, for $165M in cash, subject to customary adjustments.
Founded in 2019, Lexion is an agreement workflow platform that helps every team do more faster, by streamlining and centralizing the contracting process in a system that integrates with how teams work. Its products include a repository for storing agreements with AI-powered tools for creating automated workflows and extracting valuable information that enables businesses to move faster, gain greater insights, and make better decisions.
The acquisition will bolster Docusign’s position in Intelligent Agreement Management (IAM), a growing SaaS category, and will add more AI capabilities to its IAM platform. The co-founders of Lexion — CEO Gaurav Oberoi, CTO Emad Elwany, and Principal Architect James Baird — will join Docusign in senior roles within product and engineering: Oberoi will be a VP of Product Management, Elwany will be a VP of Engineering, and Baird will be a Principal Engineer.
Lexion also brings to Docusign a team of AI engineers with backgrounds at Amazon, Google, Meta, and Microsoft along with a broader organization that has a deep understanding of the agreement management space.
Led by Allan Thygesen, Chief Executive Officer, Docusign provides over 1.5 million customers and more than a billion people in over 180 countries with e-signature and contract lifecycle management (CLM) solutions to create, commit, and manage agreements.
FinSMEs
07/05/2024