Electronic signature giant Docusign said today it will acquire Seal Software for $188 million in cash.
- Founded in 2010, Walnut Creek, Calif.-based Seal Software bills itself as the “global leader in enterprise contract analytics.” It helps companies such as Nokia, Dell, and PayPal manage contracts and competes with Seattle-area startup Icertis.
- DocuSign already resells Seal’s product as part of its DocuSign Agreement Cloud. It also previously invested in the startup this past March.
- Seal Software had raised nearly $60 million, according to Crunchbase.
- DocuSign is based in San Francisco but has its largest office in Seattle, where the company was originally founded in 2003. It posted Q3 revenue of $249.5 million, up 40 percent. Shares are up 50 percent over the past year.