Contract lifecycle management vendor Agiloft has acquired Screens, a standard-based GenAI contract review and redlining solution that helps legal teams apply playbooks and receive suggested markups during contract negotiations. Agiloft’s redlining capability will transition to Screens over the next couple of quarters.
It is anticipated that the acquisition will help Agiloft’s customers to create consistency and standardisation across the contract review process, including helping legal teams to gain a better understanding of what is market.
One of Screens’ USPs is that it has built a global community of creators of playbooks, which are freely available to Screens users. Customers may also choose to list their own playbooks for reuse by the broader user community. The benefit of this is that it helps to drive wider market standardisation: as playbooks are used by Screens users, the system tracks pass and failure rates. If a particular clause regularly passes, users can assume that it is an industry standard worth insisting on, and if it regularly fails, users can assume what should be avoided or eliminated.
Screens is the sister company of TermScout, both founded by Otto Hanson, however Agiloft is only acquiring Screens. Six members of the Screens team will be joining Agiloft as a part of the deal (two in product, three in engineering, and one in go-to-market). Hanson will be joining as Agiloft’s VP of product & general manager of Screens, which will continue to be available stand alone for the foreseeable future. Evan Harris, CTO of Screens and TermScout, will be joining Agiloft as senior director of software engineering in Agiloft’s technical team.
Agiloft and Screens share several existing customers including Del Monte Foods.
“Legal teams are under constant pressure to move quickly while ensuring that contracts meet the highest standards,” said Hanson. “By joining Agiloft, we are accelerating the impact of our AI-driven contract review technology. Together, we will provide organizations with a seamless, end-to-end solution that streamlines contract management from start to finish.”