SoftBank-backed SaaS unicorn Icertis is reportedly exploring a potential sale, which could value the company at up to $5 Bn. Sources told Bloomberg that many buyout firms have also shown preliminary interest in the sale. Deliberations are still ongoing and no final decision has been made on the matter. However, sources reportedly said that the AI-powered contract management software firm might decide against a sale. Buyout firms typically are private equity (PE) firms that acquire controlling interests in established companies. As per the report, the AI-powered contract management software firm is working with investment banking firm Goldman Sachs on the potential deal. Inc42 has reached out to Icertis for comments on the development. This story will be updated based on the responses. The development comes barely two weeks after Icertis cofounder Sameer Bodas passed away at the age of 61 after a prolonged battle with cancer. Founded in 2009 by the late Bodas and Monish Darda, Icertis provides software that helps enterprises manage and analyse business contracts using artificial intelligence (AI). Its flagship product, Icertis Contract Management (ICM), is used to manage sell-side, buy-side and corporate contracts across global operations. Headquartered in the US, the unicorn also has a research… Read MoreInc42 Media
