E-signature company DocuSign Inc. made another in a string of acquisitions today, announcing it’s buying Liveoak Technologies Inc., which sells software that lets people electronically prepare, sign and manage contract agreements.

Liveoak uses a combination of identity verification, videoconferencing and other collaboration tools to enable people to remotely complete auditable transactions.

DocuSign said it’s buying Liveoak to boost the capabilities of its Agreement Cloud platform, which is a suite of applications for preparing, signing, acting on, and managing agreements. More specifically, it will add Liveoak’s capabilities to a new product it’s launching this summer called DocuSign Notary, which will enable remote notarization for situations when the notary public and signers are in different places.

In addition, DocuSign Notary will also help to improve the company’s existing eNotary tool, which enables notaries to act as a witness for electronically signed documents. DocuSign said it will continue to offer Liveoak’s platform separately for other assisted agreements such as account openings or virtual inspections that require in-person facilitation and an audit trail.

“DocuSign is practically synonymous with the electronic completion of agreements from almost anywhere, on almost any device,” said DocuSign Chief Operating Officer Scott Olrich in a statement. “But there is an important class of high-value agreements that require the live participation of a notary or other representative. With this acquisition, we intend to bring the DocuSign experience to those agreements too, so signers and those assisting can get business done no matter where they are.”

The acquisition comes at a time when DocuSign’s business seems to be growing nicely. The company reported a yearly revenue increase of 39% during its second-quarter earnings call last month, saying more people were using its services thanks to the COVID-19 pandemic. Earlier this year, it acquired an artificial intelligence-powered contract analytics company, called Seal Software Ltd., for $188 million.

Photo: DocuSign