DocuSign CEO Says Company Will Remain Public
DocuSign will stay a public company, according to the electronic signature platform’s CEO.
Allan Thygesen made that pronouncement in an interview with CNBC published Wednesday (May 23), following reports that private equity firms had considered a takeover.
“We’re focused on building a great, independent public company,” Thygesen said during a partner event the company hosted in London. “I joined DocuSign as a public company, it’s a very exciting time right now, so that’s our plan.”
Late last year, reports emerged that DocuSign, which offers a service that lets users ink contracts digitally, was considering a sale. A company spokesperson declined to comment on the report when asked by PYMNTS.
Two months later, both Bloomberg News and Reuters reported that Bain Capital and Hellman & Friedman were competing to purchase the company for almost $13 billion.
Thygesen told CNBC he “can’t comment on anything that may or may not have happened in the past,” when asked by the network if he could confirm rumors of the takeover interest.
The report notes that the company has been trying to sell investors on its AI-centric future, with DocuSign recently debuting several products powered by the technology and making a $165 million deal for Lexion, an AI-based contract management product.
The company also has a new product called “Intelligent Agreement Management,” or IAM, a more automated version of its Contract Lifecycle Management (CLM) process.
These efforts are happening as the documentation landscape is coming out of a major transformation, driven by technological advances and changing attitudes toward digitization.
“This evolution is particularly evident in recent developments domestically and internationally, signaling the acceptance and integration of electronic signatures into public and private sector operations,” PYMNTS wrote in April.
For example, recent legislation in Washington state — due to go into effect in June — allows the state’s Public Employment Relations Commission to accept digital signatures from public employees seeking to join together in unions.
Developments such as these, that report said, are complemented by DocuSign’s integration with WhatsApp last November, which allows businesses to finalize deals and contracts through the popular messaging app.
“This integration not only demonstrates the growing synergy between digital signing solutions and everyday communication platforms, but also highlights the increasing demand for seamless and user-friendly documentation tools,” PYMNTS wrote.
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