Docusign has announced its agreement to acquire Lexion, a provider of AI-powered agreement management software, for $US165 million in cash. The company says the acquisition will bolster its position in Intelligent Agreement Management (IAM), a growing SaaS category, and will add more powerful AI capabilities to the Docusign IAM platform.

Lexion’s AI-based agreement technology simplifies and centralizes the contract process, enabling accelerated drafting, negotiation, and review of agreements. It offers a suite of solutions designed for creating automated workflows and extracting vital information from contracts.

Allan Thygesen, Chief Executive Officer at Docusign, said, “This strategic acquisition underscores our commitment to providing our customers with Intelligent Agreement Management solutions that will transform agreement data into insights, accelerate contract reviews, and boost productivity to ultimately grow revenue faster.”

The co-founders of Lexion have extensive expertise in AI and contract management. Lexion also brings to Docusign a team of AI engineers with backgrounds at Amazon, Google, Meta, and Microsoft along with a broader organization that has a deep understanding of the agreement management space.

The integration of Lexion’s advanced AI capabilities into the Docusign IAM platform will enable organizations to access richer insights and analysis from their agreements, expedite contract reviews and negotiations, seamlessly locate insights within documents, and drive process automation. This includes bringing advanced document understanding capabilities to Docusign, including contract reviews, negotiation, a Q&A experience, and more:

Richer insights and analysis: Docusign will be able to help customers unlock insights to more critical information in their agreements to support day-to-day operations, answer business relevant questions, and identify risks. Lexion technology will enable Docusign to accelerate the pace of customers having granular understanding of their agreement structure, data, and attributes for a wider variety of contracts with better precision.

Lexion AI Contract Assist: A Word plug-in will substantially accelerate and intelligently assist in the contract review and negotiation process. Customers will be able to automatically review contracts from first and third parties for potential risks and deviations from approved playbooks. Where agreements don’t align to company standards or customized playbooks, the feature provides suggested revisions with AI-generated recommendations.

Answer agreement questions, effortlessly: Lastly, Lexion technology will enable users to more seamlessly find information in their agreements, via the Q&A experience. Imagine being able to simply ask whether a contract includes an indemnification or warranty clause and have your question answered instantly, without scrolling through the whole document.

Seamlessly manage intake: Lexion’s technology allows users to initiate tasks, provide approvals, and add comments simply via email, Microsoft Teams, or Slack. This seamless integration results in high adoption by the business, and a robust picture of agreement-related tasks in one place.