DocuSign Acquires Liveoak Technologies For $38M For Online Notarization

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At the same time, DocuSign announced a new product called DocuSign Notary.

According to TechCrunch, DocuSign announced it has acquired Liveoak Technologies last week for approximately $38 million, “giving the company an online notarization option.”

In addition, DocuSign “announced a new product called DocuSign Notary, which should ease the notary requirement by allowing it to happen online along with the eSignature,” TechCrunch reported. “As we get deeper into the pandemic, companies like DocuSign that allow workflows to happen completely digitally are in more demand than ever. This new product will be available for early access later in the summer.”

Liveoak brings together “live video, collaboration tooling and identity verification that enables parties to get notarized approval as though you were sitting at the desk in front of the notary,” TechCrunch added. The process of printing, signing, scanning and returning a document, on top of signing it in the notary’s presence if a notary is required, can be streamlined with an online workflow, which DocuSign is providing with this acquisition.

“It’s like the perfect pandemic acquisition, making a manual process digital and saving people from having to make face-to-face transactions at a time when it can be dangerous,” TechCrunch wrote. “This acquisition is part of a growing pandemic acquisition trend of sorts, where larger public enterprise companies are plucking early-stage startups, in some cases for relatively bargain prices. Among the recent acquisitions are Apple buying Fleetsmith and ServiceNow acquiring Sweagle last month.”

Read the full report here.

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