DocuSign, Inc. has announced its acquisition of Israel's Algorithmic Research, Ltd. (ARX) Digital Signatures. No financial details about the deal were disclosed but sources estimate DocuSign is paying $30-50 million.
The acquisition builds on a three year business partnership between DocuSign and ARX, bringing together ARX's CoSign digital signature technology with DocuSign's Digital Transaction Management (DTM) platform, to empower customers to transact business with full trust and confidence anywhere in the world. DocuSign's acquisition of ARX further accelerates the company's worldwide expansion and broadens The DocuSign Global Trust Network.
ARX CEO Gadi Aharoni said, "DocuSign is the undisputed global standard for Digital Transaction Management. ARX customers will benefit from the robust cloud-based workflow and transaction management capabilities of the DocuSign Digital Transaction Management (DTM) platform - complete with Bank Grade Security and Carrier Grade Availability to empower them to transact anytime, anywhere, on any device. Securely."
Way back in 1997, ARX was sold to Cylink for $83 million. But Cylink did not survive the 2000 bursting of the dot.com bubble and fell back into the hands of its management and employees in a buyout. Since then the company has focused on digital signature solutions.
"ARX has been a great partner for DocuSign for many years," said Keith Krach, DocuSign Chairman and CEO. "They have a high performance team, strong customer focus, world class technology, and deep domain expertise. We're delighted to have ARX's customers and partners join The DocuSign Global Trust Network."
ARX, with its CoSign line of products, offers important compliance certifications critical for customers in Europe, the Americas and Asia, including NIST's FIPS 140-2 Level 3 and Common Criteria EAL4+ certifications. CoSign is used by millions of users globally to transact business in the most highly regulated industries, including life sciences, government and public sector, financial services, healthcare and engineering. The CoSign product line includes native integrations into a wide variety of systems including Microsoft Office, Office 365, SharePoint, Nintex, K2, OpenText, Oracle, Alfresco and more.
ARX has more than 2,000 customers.
Published by Globes [online], Israel business news - www.globes-online.com - on March 12, 2015
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