Adobe has bulked up its document exchange services platform by buying venture-backed EchoSign, a provider of electronic signatures and signature automation technology. Terms of the deal were not released. EchoSign had raised more than $8 million from investors including Storm Ventures and Emergence Capital Partners.
Adobe Systems Incorporated (Nasdaq:ADBE) today announced that it has acquired EchoSign, a leading Web-based provider of electronic signatures and signature automation. EchoSign’s pioneering electronic signature solution will be a key component of Adobe’s document exchange services platform for reliably exchanging documents for universal access, review and approval.
EchoSign’s solution, which currently supports more than three million users worldwide, will be offered as part of Adobe’s online document exchange services platform. The EchoSign solution will be integrated with other Adobe® document services including SendNow for managed file transfer, FormsCentral for form creation and CreatePDF for online PDF creation. By reducing the time and costs of having documents signed with traditional methods, such as fax and overnight envelopes, the EchoSign solution can enable customers to significantly accelerate sales cycles, improve tracking and centralize the management of signed agreements through a simple to use cloud service.
“Adobe’s document solutions help organizations turn inefficient, paper-based workflows into streamlined electronic ones,” said Kevin M. Lynch, vice president and general manager of Acrobat® Solutions, Digital Enterprise Solutions, Adobe. “By adding electronic signature capabilities to Adobe’s document exchange services platform, we will be addressing the need to provide better customer experiences by significantly reducing the time, cost and complexity associated with having a document signed.”
With just one click, the EchoSign electronic signature solution automates the entire signature process from the request for signature to the distribution and execution of the form or agreement. The EchoSign solution provides a secure subscription-based service to individuals, small to medium-sized businesses (SMBs) and enterprise customers, enabling real-time visibility into the signature process and automatically storing and managing all signed documents.
The EchoSign service includes a rich set of APIs for incorporation with company-specific solutions to improve the process of sending, tracking and signing digital documents. Used by thousands of companies around the globe, the EchoSign service also integrates with partner solutions, such as Salesforce.com and NetSuite, and has been named “Best of Salesforce AppExchange” by the Salesforce.com customer community for the past three years.
“Bringing together EchoSign’s ease of use for contracting on the Web with Adobe’s brand, reach and trust in the document space, I fully expect that electronic signatures will soon become the common way for people to sign documents,” said Jason Lemkin, chief executive officer, EchoSign. “With nothing to download, learn or install, there is simply no faster or more secure way for organizations to sign, track or file contracts – and close more business quickly.”
EchoSign is based in Palo Alto, Calif. with a sales presence in the U.K. and Germany. The founders of EchoSign and all full-time employees will join Adobe, bringing with them a wealth of knowledge and experience in electronic signature solutions.
Forward-Looking Statements Disclosure
This press release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks, uncertainties and other factors, including risks and uncertainties related to Adobe’s ability to successfully address the market for electronic signatures. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including statements regarding: the ability of Adobe to address the market for electronic signatures and the growth of this market and other anticipated benefits of the transaction to Adobe; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. These risks, uncertainties and other factors, and the general risks associated with Adobe’s business, could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. All forward-looking statements are based on information currently available to Adobe and are qualified in their entirety by this cautionary statement. For a discussion of these and other risks and uncertainties, individuals should refer to Adobe’s SEC filings. Adobe does not assume any obligation to update any such forward-looking statements or other statements included in this press release.
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