DocuSign to acquire CLM software provider SpringCM for $220m
DocuSign will acquire SpringCM, a cloud-based document generation and contract lifecycle management (CLM) software company based in Chicago, for $220 million.
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With the addition of SpringCM’s capabilities in document generation, redlining, document management, DocuSign says the deal will help it move beyond e-signatures to the rest of the agreement process – from preparing to signing, acting-on, and managing agreements.
Dan Springer, CEO of DocuSign, says it has started to offer solutions that connect and automate the entire agreement lifecycle.
He adds: “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.”
SpringCM’s solutions are used by around 600 companies – including ADP and Facebook.
The acquisition is expected to close in the third quarter of DocuSign’s fiscal year.
There were no details about any job redundancies.
Last month, Deutsche Bank turned to DocuSign to speed up account openings for its corporate and institutional clients by introducing a digital signature.
