DocuSign has signed a definitive agreement to acquire SpringCM, a cloud-based document generation and contract lifecycle management software company based in Chicago.

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.

With the addition of SpringCM’s capabilities in document generation, redlining, advanced document management, and end-to-end agreement workflow, the deal further accelerates 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 company said in a statement.

[Image courtesy: DocuSign]