Electronic signature and contract leader DocuSign is reportedly exploring a sale in what would be one of the largest recent leveraged buyouts.

According to a report from the Wall Street Journal, the company is in the early stages of conversations over a sale and there is no guarantee that a deal will manifest. The report notes that the company, which has a market cap of over $11 billion, could attract interest from private equity and tech firms.

The company provides electronic signature products that allow users to securely send and sign documents from anywhere to virtually any device. Its customers include the likes of Apple, Grant Thornton and Unilever.

The report notes that DocuSign was valued at around $6 billion at the time it went public in 2018, 15 years after its founding in 2003. The company saw a huge spike in interest during the Covid-19 pandemic, when the shift to remote working fueled demand for the ability to sign deals virtually.

However, like a lot of remote working products, the tech’s demand cooled faster than expected due to accelerating return-to-office trends and a slowdown in dealmaking due to the global economic climate.

Markets reacted positively to the news of a potential sale, with DocuSign’s share price increasing by 11 per cent following the report’s publication on Friday.

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