On Monday, electronic document and e-signature company Docusign announced it has entered an agreement to acquire contract life cycle management provider Lexion for $165 million in cash, “subject to customary adjustments,” a news release stated. In an email to Legaltech News, a spokesperson for Docusign said the company expects the deal to close in a few weeks.
The acquisition is part of a larger plan to bolster Docusign’s position in the emerging SaaS category of Intelligent Agreement Management, the release said. Last month, the e-signature company unveiled Docusign IAM, an Intelligent Agreement Management platform and suite of applications expected to launch in May. Among the new services previewed for the platform at the time were Docusign Navigator, an artificial intelligence-powered agreements repository; Docusign Maestro, which creates custom agreement workflows; and Docusign App Center, which brings different applications together. The acquisition of Lexion, the release said, will allow Docusign to “add more powerful AI capabilities to the Docusign IAM platform.”
