On September 7th, DocuSign announced that it has agreed to acquire the Trusted Documents and Transactions (TDT) division of identity-based solution provider OpenTrust. This acquisition signals a shift that suggests DocuSign wants to spread their technology quickly through the EU, a tactic that should prove fruitful in the coming years.
There is no word yet on financial details, but DocuSign CEO Keith Krach told VentureBeat that all 60+ members of the TDT division will be joining the company.
For any business to succeed in the long-term, they can’t remain complacent. Complacency can take many forms for a business, one of the most important forms being the target demographic for your customers. With this acquisition, it appears that DocuSign has this business fact firmly in their minds.
“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. “We’re delighted to have OpenTrust’s customers, partners, and employees join the DocuSign Global Trust Network.”
How beneficial could this European expansion be for DocuSign? At face value, it will provide them with a team that is already experienced in this region and will make it likely that they can replicate their North American success in new European markets. For a company that has known such great success, this is a great move.
While we do not yet know financial details, it’s not too early to call this acquisition a wise one for DocuSign in the long-term.
OpenTrust is the leading European provider of software and cloud trust services. They develop software that protects the identities of people and their devices, as well as for securing electronic documents and transactions.
OpenTrust is present in Europe, the Middle East, and North America through a network of local partners and resellers.