Conga Acquires Contract Wrangler
Conga, a provider of contact management technology, has acquired Contract Wrangler, a provider of artificial intelligence-diriven solutions to help companies understand the terms and obligations in contracts. Financial terms of the deal were not disclosed.
With the combination, companies will be able to holistically manage all of their contracts.
"With our acquisition of Contract Wrangler, we're extending our leadership in helping companies manage their revenue contracts," said Conga CEO and Culture Leader Noel Goggin in a statement. "Together, we'll empower companies to manage risk, compliance and obligations, while maximizing their revenue potential."
"Contract Wrangler's ability to help companies gain actionable insights from all their contracts is unparalleled and a perfect complement to the Conga commercial and revenue operations solutions," said Contract Wrangler CEO John Gengarella in a statement. "With Conga's global go-to-market and services capabilities, we'll have an incredible opportunity to accelerate our growth as part of a market leader."
"We are delighted to bring customers a fully integrated, native, AI-based contract ingestion capability," said Conga Chief Product Officer Grant Peterson in a statement. "Giving customers the option to quickly and accurately ingest their contract legacy will fuel renewals, facilitate search, enable risk analysis, and expand the value of our contract lifecycle management product family."
Contract Wrangler ingests all company contracts, applies machine learning and attorney-in-the-loop verification to extract and organize all of the key terms and clauses, and then provides an interface to operationalize the insights, allowing the company to act on critical dates, terms, and clauses to capture opportunities, meet obligations, control spend, and mitigate risks.
Conga will bring Contract Wrangler to market as Conga Contract Intelligence, which will be sold standalone and as a value-added capability to Conga's Contract & Lifecycle Management (CLM) solutions.