DFIN Expands its Leading Global Risk and Compliance Capabilities
to Include AI-Based Data Extraction and Analytics Solutions
CHICAGO--(BUSINESS WIRE)--
Donnelley Financial Solutions (NYSE: DFIN) announced today that it has
entered into a definitive agreement to acquire eBrevia, a leading
provider of artificial intelligence-based data extraction and contract
analytics software solutions. The acquisition aligns with DFIN’s
commitment to providing clients with best-in-class secure data
aggregation, due diligence, compliance and risk management solutions.
“DFIN has a rich history of innovation to meet the evolving needs of
clients, while also leading the industry in providing insightful
technology-enabled solutions, industry expertise and data insights at
every stage of the business and investment lifecycle,” said Daniel N.
Leib, chief executive officer of DFIN. “Together with eBrevia, we are
excited to provide superior artificial intelligence-based solutions to
our global clients. This acquisition enhances our suite of
industry-leading software solutions and provides highly relevant,
recurring services for current and prospective clients.”
DFIN’s current and prospective clients will benefit from:
- Tech-forward data extraction: eBrevia provides a platform that
uses artificial intelligence – machine learning and natural language
processing – to extract and analyze data.
- Accurate productivity: The platform helps attorneys review up
to 90 percent faster and more accurately.
- Seamless integration with Venue: eBrevia’s platform seamlessly
integrates with DFIN’s Venue Data Room solution providing intelligence
on end-to-end deal solutions.
- Secure and Actionable: within DFIN’s Venue Data Room, your data
is protected with bank-grade security, powerful encryption, and
eBrevia’s output delivers actionable intelligence in easy to read
summaries.
“DFIN has always been known for providing innovative technology
solutions at critical times with a superior level of service,” said Ned
Gannon, eBrevia co-founder and CEO. “We’re excited to join forces with
DFIN. eBrevia’s diverse client base including accounting, consulting,
law firms and corporates will benefit significantly as we continue to
rapidly advance our leading AI products.”
“We have been at the forefront of delivering artificial
intelligence-based data solutions to our clients since our partnership
with eBrevia began in 2015,” said Craig Clay, president of Global
Capital Markets at DFIN. “The eBrevia team under co-founders Ned Gannon,
Adam Nguyen and Jake Mundt have developed groundbreaking solutions that
not only efficiently manage, analyze and extract data, but do so with
next-generation artificial intelligence that has exciting additional
applications for our broader business,” concluded Clay.
DFIN and eBrevia are committed to transform the way companies extract
and analyze data with efficient, savvy solutions and exceptional
service. In addition to the comprehensive regulatory and compliance
suite of products DFIN already offers, clients will now have access to
best-in-class artificial intelligence-based platforms, substantial
global resources and a continued commitment to technological innovation.
Given DFIN’s existing ownership of eBrevia, the net purchase price to
DFIN at closing is approximately $19.5 million in cash. The sellers also
may earn additional cash consideration of up to $4 million if certain
performance targets are achieved post-closing. The acquisition, which is
expected to close within the next 30 days, is expected to be cash flow
positive in 2020 and is consistent with the Company’s disciplined
approach to capital allocation.
About Donnelley Financial Solutions (DFIN)
DFIN is a leading global risk and compliance solutions company. We
provide domain expertise, software and data analytics for every stage of
our clients’ business and investment lifecycles. Markets fluctuate,
regulations evolve, technology advances, and through it all, DFIN
delivers confidence with the right solutions in moments that matter.
Learn about DFIN’s end-to-end risk and compliance solutions at
DFINsolutions.com or follow us on Twitter @DFINSolutions
or on LinkedIn.
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’ (DFIN) filings
with the SEC. Donnelley Financial Solutions (DFIN) disclaims any
obligation to update or revise any forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181218005194/en/
Donnelley Financial Solutions
Media Contact:
Erin
Burke
631 239 6903
eburke@Stantonprm.com
Investor Contact:
Justin Ritchie
justin.ritchie@dfinsolutions.com
Source: Donnelley Financial Solutions