Today, Onit Inc. announced it acquired SecureDocs to provide contract management software capabilities to smaller corporate legal departments and add native virtual data room and e-signature features to its offerings. While financial details of the transaction were not revealed, Onit did disclose that SecureDocs and its products will remain standalone offerings.
As part of the acquisition, Onit will gain SecureDocs’ virtual data room software, which Onit CEO Eric Elfman described as a “nice, stable business” he was attracted to. Onit will also leverage SecureDocs’ e-signature software ReadySign to provide a preferred native option for clients to use, instead of the company’s integrations with e-signature providers DocuSign, Adobe EchoSign and HelloSign. “We have to sell third-party [e-signature abilities] at exorbitant prices and ReadySign brings those same capabilities,” Elfman noted.
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