Gunderson Dettmer Advises SpringCM in $220 Million Acquisition by DocuSign
Gunderson Dettmer acted as legal advisor to SpringCM, a leading cloud-based document generation and contract lifecycle management software company, in its $220 million acquisition by DocuSign. In a definitive agreement announced today, the transaction will further accelerate DocuSign’s broadening of its solution beyond e-signature to the rest of the agreement process—from preparing to signing, acting-on, and managing agreements.
The Gunderson Dettmer team was led by John Dietz (corporate), John Olson (corporate), Grace Ko (IP), Jeffrey Goldman (executive compensation) and Sharon Hendricks (executive compensation), with associates Albert Yeh, Shefali Tandon, Aaron Fiske, Melissa Quartner, Deidre Kalenderian and Jaime Narayan.
As noted in SpringCM's official press release (here), "SpringCM shares DocuSign’s passion for transforming and automating the foundation of doing business—the agreement process,” said Dan Dal Degan, CEO of SpringCM. “That’s what we’ve been focused on since inception, and it’s why we power the contract lifecycle management processes for more than 600 of the world’s leading companies—including ADP, Aetna, Facebook, Hilton, Lenovo, Spotify, and the U.S. Department of Agriculture. By joining forces with the market leader, we can continue to simplify and accelerate the process of doing business, and drive innovation both before and after agreements have been DocuSigned.”
Under the terms of the agreement, DocuSign will acquire SpringCM for approximately $220 million in cash. Subject to customary closing conditions, including U.S. regulatory approval, the acquisition is expected to close in the third quarter of DocuSign's fiscal year.