San Francisco based Docusign which offers an e-signature platform to businesses to carry out transactions digitally has bought the Trusted Documents and Transactions (TDT) division of France based OpenTrust to help in increasing the adoption of its Digital Transaction Management (DTM) platform in the European Union.
The DTM platform of Docusign combined with the electronic certification services of OpenTrust aims to help customers in carrying out their digital transactions securely.
The combination of DocuSign and OpenTrust will bring the value of the fully digital business to more organizations by empowering anyone to transact anytime, anywhere, on any device. Securely.
said Pascal Colin, CEO, OpenTrust.
According to Docusign chief executive Keith Krach, all 60 employees of TDT division of OpenTrust would be joining Docusign and they are delighted to have Open Trust’s customers, partners and employees join The DocuSign Global Trust Network.
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.
Docusign enables more than 100,000 companies and 50 million people in 188 countries to go digital by providing them a complete paperless solution and an electronic signature platform/network which is used by nearly every department including real estate agents, human resources departments and large companies to digitally sign documents and approve transactions.
Since its inception in 2003, it has so far raised more than $500 million funding with latest funding of $45 million from new investors like Dell and Intel and before that a staggering $233 million in Series F round of funding earlier this year. There are strong rumors regarding an impending IPO of the company.
While on the other hand, OpenTrust is a company based in France which offers digital signature and electronic certification services to ensure more security and trust when companies go digital.
There are two major product lines from OpenTrust available as cloud or under a software license, namely Trusted Identities which feature strong authentication and certificate lifecycle management for any type of media or device; and Trusted Documents & Transactions, which feature digital signatures, confidentiality and proof management. The latter has been bought by Docusign.
Both the companies have worked together in past under a partnership in 2014 when Docusign integrated the its DTM platform with OpenTrust Protect & Sign, a service from OpenTrust using digital certificates in order to simplify and accelerate business transactions in the cloud to help companies and customers realize the benefits of a fully digital business and create better experiences for customers, partners, suppliers, and employees.