Private Equity Firms Compete to Acquire DocuSign, Stock Soars

Private equity firms Bain Capital and Hellman & Friedman are reportedly competing to acquire DocuSign Inc, a provider of online signature services with a market value of about $12 billion, causing DocuSign stock to surge more than 9%. The two firms are among the final bidders in the auction for DocuSign, with the possibility of partnering down the line to clinch a deal. Blackstone Inc, another buyout firm, is no longer in contention. DocuSign went public in 2018 at a $6 billion valuation and has seen growth in its quarterly earnings and revenue. The potential acquisition comes amid a slowly improving financing outlook for large leveraged buyouts.