Intuit Inc. (NASDAQ:INTU) is partnering with DocuSign, to integrate the latter’s electronic signature technology and Digital Transaction Management services in its professional tax software product. This technology from DocuSign will help Intuit Inc. (NASDAQ:INTU)’s customers to quickly and securely obtain digital signatures. The recent hack attacks, which were targeted at some major companies in US and the iCloud leaks have brought cyber security at the forefront. In this environment, companies like DocuSign, which are in the business of securing transactions and information, are witnessing a huge demand for their products and services. DocuSign CEO, Keith Krach was recently on Fox Business to discuss his company’s partnership with Intuit Inc. (NASDAQ:INTU).
“This is one of the most important issues and if you think about documents that people sign to are perhaps the most important documents, that’s why our encryption technology as well as our bank class security as well as our carrier class availability is so key and that’s actually one of the big factors that is driving the winds of this tornado and this new technology that has emerged, Digital Transaction Management,” Krach said.
According to FBN’s Ling Kent, the Digital Transaction Management (DTM) technology that Krach talked about is providing a lot of business to DocuSign and 11 of the top 15 wealth-management companies use DocuSign software products. She also revealed that DocuSign is now present in 188 countries across the World. Krach feels that Digital Transaction Management is one of the biggest categories that has come around in a long time. He revealed that DocuSign has no plans of going public right now and in the foreseeable future.
As of June 30, 2014, Ken Griffin‘s Citadel Investment Group owns over 2.5 million shares of Intuit Inc. (NASDAQ:INTU).