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.dfsco.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.
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