Digital transaction management service DocuSign says it has signed a definitive agreement to acquire the Trusted Documents and Transactions (TDT) division of identity-based solution provider OpenTrust. Financial terms of the deal haven’t been disclosed, but DocuSign chief executive Keith Krach tells VentureBeat that all sixty-plus members of the TDT team will be joining the company.
With the addition of OpenTrust’s TDT team, DocuSign hopes to rapidly grow its business and will leverage the technology to help accelerate adoption of its digital transaction management solution in the European Union.
“As the market leader in France, OpenTrust offers a high performance team, strong customer focus, world-class EU-accredited technology, and deep market expertise,” said Krach in a prepared statement. “We’re delighted to have OpenTrust’s customers, partners and employees join The DocuSign Global Trust Network.”
The relationship between DocuSign and the France-based OpenTrust spans quite a bit of time. In 2014, the two companies formed a partnership to help global organizations doing business in France better manage transactions through their collective platforms. Today’s acquisition will bring OpenTrust’s digital signature and certification solutions into the DocuSign fold.
Only OpenTrust’s TDT division is being acquired. The Trusted Identities unit will remain with the company. However, DocuSign will get to add OpenTrust’s digital signature, digital transaction, and certificate ID components to its arsenal.
Naturally, the addition of the OpenTrust team and DocuSign’s continued growth in the EU beg the question whether DocuSign is planning on going public any time soon, as some have suggested. The company recently raised $233 million for its Series F round at a $3 billion valuation. We asked Krach about any potential to go public, but he declined to comment.
Krach did tell us that this deal is expected to close in the fourth quarter of this year.
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