DocuSign, a platform that offers e-signature tools to facilitate electronic agreements, has announced its agreement to acquire Lexion, a contract management platform, for USD 165 million in cash, subject to customary adjustments.

Through this acquisition, DocuSign aims to leverage Lexion’s AI-based contract management technology and expertise to strengthen its position in the Intelligent Agreement Management (IAM) space and enhance DocuSign’s IAM platform capabilities. Following the acquisition, the co-founders of Lexion, Gaurav Oberoi (CEO), Emad Elwany (CTO), and James Baird (principal architect) will be taking up senior product management and engineering roles at DocuSign.

Founded in 2019, Lexion offers an AI-powered contract management platform that allows users to centralize the contracting process, enhance agreement drafting and review, extract important information, and automate various workflows.

Analyst QuickTake: Recent acquisitions within the PropTech space were driven to support product development strategy, enhance user experience, and leverage property data and technological capabilities. 1) CoStar Group to acquire Matterport to use Matterport's technology to enhance its online real estate marketplaces and other offerings (April 2024), 2) Zillow to acquire Follow Up Boss to improve customer experience and support further investments across its product offerings (November 2023), and 3) PriceHubble acquired WhenFresh to build on synergies by using WhenFresh’s residential property data and technological capabilities, expand its data solution offerings, and enhance its market position across the UK (October 2023).