Exari, which is backed by Beacon Equity Partners, has acquired UK-based Adsensa, a provider of contract data discovery and analytics. No financial terms were disclosed.
Boston, MA, and Newbury, UK, June 6, 2017 – Exari, the leading provider of enterprise contract lifecycle management solutions today announced it has acquired Adsensa, a market leader in contract data discovery, capture and analytics. The combination creates for the first time a complete contract life-cycle management (CLM) platform that enables companies to manage new, legacy and third-party contracts all from one complete solution.
Credit Suisse is collaborating with Exari on the development of new technologies in the CLM space. “For years, large banks have integrated disparate technologies to maintain control and gain insight into their Master Trading Agreements,” said Colin Hall, Chief Data Officer at Credit Suisse. “In today’s competitive environment, banks need to streamline their business processes whilst satisfying a myriad of regulatory environments. Technologies that can help achieve these efficiencies will be in high demand.”
The acquisition will expand Exari’s presence in key industries, including insurance, financial services, energy and professional services as well as open significant opportunities in new industries and geographies. Adsensa has a rich history of capturing data at the highest levels of accuracy, which is unprecedented in the industry. The Adsensa team, with operations in Newbury, London and Chicago will complement Exari’s worldwide presence.
“Companies struggling with getting deep insight into their policy data will benefit greatly from this combination,” said Ian Macartney, CEO at Torrent Technologies, a Marsh company. “Adsensa’s deep and accurate extraction along with Exari’s robust and complete platform will streamline the business process, decision making and ultimately, market competitiveness.”
The Exari platform is the most complete of all major CLM vendors for unifying contract management across the entire enterprise. Unlike other vendors, only Exari delivers a unique Universal Contract Model™ combined with high-speed machine extraction to deliver unprecedented contract insight and control, leading to reduced risk.
“This acquisition delivers on what the market has been demanding,” noted Ed Mullen, Chairman of the Board, Exari Group. “The combined company will serve over 250 customers worldwide and can now solve even more comprehensive challenges and deliver real, tangible benefits. The combination nearly doubles the Exari customer base and will accelerate Exari’s growth in existing markets and open new markets as customers and prospects understand the power of the platform.”
“The team at Adsensa has built a profitable, growing company with excellent customer satisfaction and highly differentiated solutions,” said Bill Hewitt, CEO of Exari Group. “Adsensa’s powerful contract data discovery software combined with Exari’s leading CLM software creates a tremendously robust platform. The acquisition is immediately accretive, and will make Exari a stronger, faster growing company. We’re thrilled to welcome the entire Adsensa team to the Exari family.”
According to Forrester, “The CLM market is growing because more contract professionals see this product as a way to address their top challenges. This market growth is in large part due to the fact that general counsels and other contract pros increasingly trust CLM providers to act as strategic partners, advising them on top contract life-cycle decisions.”
“We’re delighted to be joining forces with Exari,” said Laurie Davison, CEO of Adsensa. “Our complementary solutions will give more control over their contract and document management processes while advancing their digitization efforts to a whole new level. We’re excited to be a key part of Exari’s continued growth.”
Exari delivers the most complete Enterprise Contract Lifecycle Management platform, used every day by market-leading companies to understand all aspects of their contract ecosystem worldwide. With Exari, customers can reduce contract risk and improve operating efficiency with 100% Contract Certainty™. www.exari.com.