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Docusign acquires contract management provider Lexion for $165M to add more AI to its IAM platform
Docusign adds more AI to its Intelligent Agreement Management platform by acquiring Lexion, a contract management solution.
Founded in 2019 by Gaurav Oberoi, Emad Elwany and James Baird out of the Allen Institute for AI(AI2), Seattle-based Lexion offers a natural language processing system that turns contract text into structured data. “We share a vision of smarter agreement management, and our joint AI-powered innovation will deliver increased value, productivity and simplicity to our combined customers,” Docusign Chief Executive Allan Thygesen said in a statement. “This strategic acquisition underscores our commitment to providing our customers with [IAM] solutions that will transform agreement data into insights, accelerate contract reviews and boost productivity to ultimately grow revenue faster.”
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