Conga to Acquire Counselytics
Conga, a provider of document automation, will acquire Counselytics, a provider of contract discovery and analytics solutions. Financial terms of the deal were not disclosed.
The addition of Counselytics will broaden Conga's offerings and allow clients to instantly convert unstructured contract data to actionable intelligence. Counselytics identifies and classifies structured data elements within the unstructured data of contracts.
"With Counselytics, we are bringing on top proven experts in artificial intelligence, with 25 years of collective experience in document analytics," said Conga CEO Matthew Schiltz in a statement. "Counselytics' solution furthers our work to deeply instrument the contract process. This will accelerate our customers' contract lifecycle management adoption and maturation"
"Teaming up with Conga presents an exciting opportunity for our customers and employees and will bring the Counselytics product to a much broader audience," said Counselytics Founder and CEO Jason Gabbard in a statement. "Conga's reputation for stellar customer success, product innovation, global support, and complementary expertise in the document and contract management space will allow us to deliver a more complete contract lifecycle experience to our customers."
The Counselytics agreement is Conga's third acquisition in a month, following the additions of Octiv on March 7 and Orchestrate on March 27. Conga also added a new eSignature solution, Conga Sign, to its suite of data management, document generation, and contract lifecycle management solutions in February.