For $165 million in cash, subject to normal adjustments, Docusign (NASDAQ: DOCU), an intelligent agreement management (IAM) firm located in San Francisco, California, purchased Lexion, a company that provides AI-powered agreement management software.
The purchase will strengthen Docusign’s standing in the expanding SaaS market for intelligent agreement management (IAM) and enhance its IAM platform with more AI features.
CEO Gaurav Oberoi, CTO Emad Elwany, and Principal Architect James Baird, who co-founded Lexion, will all join Docusign in top positions related to product and engineering: Oberoi will hold the position of VP of Product Management, Elwany will hold the position of VP of Engineering, and Baird will hold the position of Principal Engineer.
About Lexion
Established in 2019, Lexion is a platform for agreement workflow that facilitates team productivity by centralizing and optimizing the contracting process within a system that works with teams’ workflows. One of its solutions is an agreement repository that combines AI-powered technologies to automate processes and extract useful data, allowing firms to operate more quickly, obtain deeper insights, and make wiser decisions.
In addition, Lexion provides Docusign with a group of AI developers with experience at Google, Amazon, Microsoft, and Meta, as well as a larger company with extensive knowledge of the agreement management market.
About Docusign
Under the direction of CEO Allan Thygesen, Docusign offers e-signature and contract lifecycle management (CLM) solutions to over 1.5 million users and over a billion individuals in more than 180 countries for the creation, commitment, and maintenance of agreements.
