DocuSign, a company that provides electronic signature products is looking to sell the company. On Friday, The Wall Street Journal reported the company, DocuSign is exploring the sale of the company and working with advisers.
As per the report, the sale of the company might be one of the largest present day leveraged buyouts. The news has been cited by people close to the matter.
The company shares rose nearly 15% after this news. Several private technology companies and equity firms will attract interest for acquiring the company for the service it offers, said the report. While the company refuses to confirm this report.
DocuSign has a market capital of 11.44 billion dollars as per the last recorded closing price from the data of LSEG. The Wall Street Journal report says discussions about the sale are in the early stages and no guarantees of a deal can be reported as of now.
DocuSign, Inc. headquartered in San Francisco, California. The company was founded by Tom Gonser, Eric Ranft and Court Lorenzini in 2003. The company has over one million customers from more than 180 countries.
This company specifically offers services to manage electronic agreements of organizations. As per the DocuSign Agreement Cloud by DocuSign offers e-signature which can be used to sign electronically on devices.
Signatures processed by the company are compliant with the EGIGN Act by the US and the eIDAS regulation of the European Union including the EU Qualified and Advanced Signatures. DocuSign makes a revenue of 2.52 billion dollars as of 2023. The company has 7,336 employees across different countries. In 2018 the e-signature company filed for initial public offering and the company’s largest shareholders at the time were Frazier Technology, Ignition Partners, Sigma Partners and Keith Krach, the former CEO of the company, the largest individual shareholder.
The company went public on 27th April, 2018 on the NASDAQ.