Venue Contract Analytics, Powered by eBrevia, Provides Clients
Unprecedented Speed and Accuracy to Take Due Diligence to the Next Level
CHICAGO--(BUSINESS WIRE)--
Donnelley Financial Solutions (NYSE:DFIN) today announced that it has
made a strategic investment in leading contract analytics software
provider eBrevia. In addition, the companies have established a
strategic relationship integrating the sales and development of their
contract analytics software and services offering. This relationship
enables clients of Donnelley Financial Solutions to securely streamline
contract review, reducing the time and resources allocated to the due
diligence process.
Donnelley Financial Solutions is a global leader in creating, managing,
printing and distributing critical financial business communications to
the global capital markets. The comprehensive Venue Deal Solutions suite
addresses and streamlines every step of the deal process, making deal
teams more efficient. As the anchor product of the suite, Venue Data
Room enables clients to securely manage, track and share confidential
data within and beyond their firewalls. The partnership with eBrevia
will further provide clients increased speed and accuracy when securely
accessing and reviewing contracts within a Venue Data Room.
“As the leading service provider to the global deal-making community,
and as a new standalone company, we are committed to the continued
investment into our advanced technology platforms,” noted Craig Clay,
President of Donnelley Financial Solutions’ Global Capital Markets
group. “Our investment in eBrevia is a testament to that commitment, as
we will continue to build and enhance Venue Contract Analytics to better
serve the evolving needs of our clients.”
Developed at Columbia University by a team of data scientists working in
conjunction with top M&A attorneys from eBrevia, the company's
technology leverages industry-leading artificial intelligence to adapt
machine learning and natural language processing technology to extract
data from contracts. eBrevia’s cutting edge software extracts concepts
rather than key words, ensuring that relevant provisions are found no
matter how deeply buried in a long and complex document. In addition to
pre-trained concepts, the software enables clients to teach the system
to read and extract nearly unlimited categories of information from
contracts.
“Dealmakers are continuously looking for innovative and intuitive new
technologies to make their diligence process as efficient as possible,
yet remain concerned with the security and scale of these providers,”
remarked Ned Gannon, CEO of eBrevia. “We are thrilled to grow our
relationship with Donnelley Financial Solutions, a leading global
financial services provider with a foundation of trust and industry
expertise, as we look to further grow our cutting-edge contract
analytics offering.”
About Donnelley Financial Solutions
Donnelley Financial Solutions (NYSE: DFIN) provides software and
services that enable clients to communicate with confidence in a
complex regulatory environment. With 3,500 employees in 61 locations
across 18 countries, we provide thousands of clients globally with
innovative tools for content creation, management and distribution, as
well as data analytics and multi-lingual localization services.
Leveraging advanced technology, deep-domain expertise and 24/7 support,
we deliver cost-effective solutions to meet the evolving needs of our
clients. For more information about Donnelley Financial Solutions, visit www.dfinsolutions.com.
About eBrevia
Based on technology developed at Columbia University, eBrevia provides
leading enterprise contract review and analysis solutions, leveraging
machine learning to produce faster and more accurate results. The
software, which extracts and summarizes key legal provisions and other
information, can be used in due diligence, contract management, lease
abstraction, and document drafting. Based in Stamford, CT with an office
in New York, NY, eBrevia was founded in 2011 by Harvard Law graduates
Ned Gannon and Adam Nguyen and computer scientist Jacob Mundt. eBrevia
was selected as having one of the top ten enterprise products by CIO.com
at the DEMO conference and received the Connecticut Technology Council's
Most Promising Software Product of the Year award.
Use of Forward-Looking Statements
This news release may contain "forward-looking statements" within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and the U.S. Private Securities Litigation Reform Act of 1995.
Readers are cautioned not to place undue reliance on these
forward-looking statements and any such forward-looking statements are
qualified in their entirety by reference to the following cautionary
statements. All forward-looking statements speak only as of the date of
this news release and are based on current expectations and involve a
number of assumptions, risks and uncertainties that could cause the
actual results to differ materially from such forward-looking
statements. Readers are strongly encouraged to read the full cautionary
statements contained in Donnelley Financial Solutions’ filings with the
SEC. Donnelley Financial Solutions disclaims any obligation to update or
revise any forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161027005486/en/
Donnelley Financial Solutions
Dave Gardella, Chief Financial Officer
312-326-8155
david.a.gardella@dfinsolutions.com
Source: Donnelley Financial Solutions