It’s been quite the week for acquisitions, as SironLabs acquires contract automation platform Zendoc and opens a centre of excellence in Nice, France, while Axiom enters the Australian market with the acquisition of Plexus Engage, and Ontra buys the assets of alternative funds tech provider Captain.
SirionLabs says that the acquisition of Zendoc deepens its commitment to the application of AI in CLM. The Zendoc team’s knowledge and experience in creating AI-powered solutions to manage contracts is a valuable addition to Sirion’s engineering and product talent.
The new European CoE joins a recently established Sirion CoE in Toronto as the company continues to scale up after its $85 million Series D funding round in May led by Partners Group.
Sirion’s engineering CoE in Nice expands the company’s presence in Europe—which continues to be a key market for business and talent. It also expands the company’s geographic reach and ability to provide localized technical support for its European customers.
“The war for talent is global, and we’re thrilled to be adding such skilled professionals to the Sirion team as well as gaining a foothold in a key region for tech development,” said Ajay Agrawal, co-founder and CEO of Sirion. “Their world-class engineering expertise moves the needle on our data-centric approach to building a better, faster, more powerful CLM platform.”
Zendoc’s co-founder and CEO Laurent Lathieyre will assume the role of Sirion’s head of post signature applications.
To learn more about Sirion’s smarter contracting solution, SirionOne, see https://www.sirionlabs.com/sirion-one/
Also in the United States, Ontra, which provides contract automation and intelligence solutions to some of the world’s most prominent asset managers, has acquired the material assets of Captain, a technology and thought leader in the alternative funds space.
The move will allow Ontra to further bolster its legal operating system for private markets, providing asset managers with a more streamlined and efficient experience for private markets transactions.
Ontra says that the integration of Captain’s assets into the Ontra platform is an important step in building the future of digital funds lifecycle management, including modernizing burdensome processes such as subscription documents, most favored nations (MFN) elections, side letter obligation management, and funds secondaries transfers.
“We are very excited to continue to incorporate Captain’s work inside the Ontra platform and expand our range of solutions for private markets clients. The rapidly increasing complexity and volume of agreements and administrative processes across the private fund management lifecycle has created significant inefficiencies for its key stakeholders,” said Troy Pospisil, founder and CEO of Ontra. “Ontra is building an AI-powered digital operating platform to help customers transform these burdensome processes into user-friendly, integrated digital workflows, and this acquisition will allow us to deliver on this vision more quickly.”
And Axiom has entered the Australian market with the acquisition of Plexus Engage, a subsidiary of Australian headquartered legal technology company Plexus, and will adopt Plexus’ matter management software.
Plexus Engage offers flexible lawyers for in-house legal teams to support projects or augment capacity.
Plexus Engage’s general manager, Richard Kohinga, will continue to lead the organization as a wholly owned subsidiary of Axiom, operating as Axiom Global Australia.
“Plexus Engage provides Axiom with an experienced team with a proven track record of driving both growth and profitability in the Australian market,” said David McVeigh, CEO of Axiom. “Our common goal is to provide legal departments with the flexibility and quality they need to drive efficiency and innovation – a priority in these challenging economic times. This acquisition is a natural extension of our current business in the APAC region, and we plan to invest heavily in this business to drive growth in Australia and adjacent geographic markets.”
Plexus Engage has over 80 active and bench lawyers who serve a diverse portfolio of clients in the software, transportation, insurance, business services, hospitality, utilities, and retail industries, as well as government entities and education.
Plexus provides legal automation, contract management, matter management, and marketing compliance technology on an integrated modular platform to over 300 of the world’s most progressive legal functions.
Axiom said in a statement that as part of the ongoing relationship, it will adopt Plexus’s technology to further accelerate the performance of Axiom’s global business.