SpringCM Enters DocuSign’s Brood to Rejuvenate Contract Lifecycle Management Software Industry
DocuSign Signs Definitive Agreement to Acquire SpringCM and Accelerates Vision to Automate Contract Lifecycle Management
As part of its vision to modernize companies’ Systems of Agreement (SofA), DocuSign Inc. has announced that it has signed a definitive agreement to acquire SpringCM, a leading cloud-based document generation and contract lifecycle management software company based in Chicago. DocuSign recently went public to further broaden its vision to automate contract lifecycle management.
With the addition of SpringCM’s capabilities in document generation, redlining, advanced document management, and end-to-end agreement workflow, the deal further accelerates DocuSign’s broadening of its solution beyond e-signature to the rest of the agreement process—from preparing to signing, acting on, and managing agreements.
“DocuSign pioneered the e-signature category and has built a strong SaaS business around that capability. We’ve also started to offer solutions that connect and automate the entire agreement lifecycle,” said Dan Springer, CEO of DocuSign.
Dan added, “We’ve done this with SpringCM as a partner across hundreds of joint commercial and enterprise customers. And we have many more DocuSign customers asking us to provide these capabilities natively as part of our platform. That’s why we believe today’s announcement makes such great business sense.”
Dan Dal Degan, CEO of SpringCM, said, “SpringCM shares DocuSign’s passion for transforming and automating the foundation of doing business—the agreement process.”
Dan Dal added, “That’s what we’ve been focused on since inception, and it’s why we power the contract lifecycle management processes for more than 600 of the world’s leading companies—including ADP, Aetna, Facebook, Hilton, Lenovo, Spotify, and the U.S. Department of Agriculture. By joining forces with the market leader, we can continue to simplify and accelerate the process of doing business, and drive innovation both before and after agreements have been DocuSigned.”
Under the terms of the agreement, DocuSign will acquire SpringCM for approximately $220 million in cash. Subject to customary closing conditions, including U.S. regulatory approval, the acquisition is expected to close in the third quarter of DocuSign’s fiscal year.
DocuSign will host a conference call today at 5:30 a.m. PT/8:30 a.m. ET to discuss this transaction. A live webcast of the event will be on the DocuSign Investor Relations website at docusign.com/investors.