ISG Acquires AI Platform Solution Agreemint

Rhea-AI Summary

Information Services Group (NASDAQ: III) has acquired Agreemint, an automated contracting solution, to enhance its ISG GovernX® vendor compliance and risk management platform. This acquisition aims to accelerate contract negotiations and improve legal compliance for supplier contracts. Agreemint's AI-powered tools are expected to add significant value to ISG's offerings, which already manage over $60 billion in annual contact value. The acquisition aligns with ISG's strategy for consistent double-digit recurring revenue growth.

Positive

• Acquisition of Agreemint enhances ISG's GovernX platform capabilities.
• Agreemint's AI tools improve negotiation efficiency and legal compliance.
• Aligns with ISG's growth strategy for double-digit recurring revenue.

Negative

• None.

Move strengthens ISG’s provider governance and risk management leadership

AI platform supports better negotiation and legal compliance of supplier contracts

Agreemint to be integrated into ISG GovernX® third-party management solution

STAMFORD, Conn.--(BUSINESS WIRE)-- Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, said today it has acquired automated contracting solution Agreemint from its founders. Terms were not disclosed.

The AI-powered contracting platform brings important new capabilities to the market-leading ISG GovernX^® vendor compliance and risk management solution and will be used by ISG to add value to future platform solutions now in development.

“Our SaaS-based GovernX platform has been one of our fastest-growing areas over the last two years, especially as large organizations seek to control costs and mitigate risk from their ever- expanding supplier ecosystems,” said Michael P. Connors, chairman and CEO of ISG. “Our acquisition of Agreemint creates the ultimate platform for enterprises to accelerate time to contract, keeping pace with their speed of technology adoption and partnership formation.”

The acquisition, Connors said, is part of ISG’s overall strategy to develop or acquire innovative SaaS-based platforms to complement its advisory business, bring more value to clients, and achieve consistent, double-digit recurring revenue growth.

Agreemint delivers automated contract authoring through a repository of legal positions to accelerate speed to contract. Its patented AI-powered smart functionality enables clients to negotiate better contracts by suggesting language proven to be legally compliant, governable and agreeable to both parties based upon analysis of previous contracting efforts. The software also anticipates language sticking points and includes a clause library that proposes pre-approved clause alternatives.

ISG has partnered with Agreemint since 2021 on solutions for several blue-chip ISG clients. Connors said the acquisition is a natural extension of that relationship and adding Agreemint software will make the ISG GovernX platform even more valuable for automating the entire contract lifecycle. GovernX has under management more than $60 billion of annual contact value, up 30 percent in the last year, across more than 10,000 client contracts, up 40 percent.

“Getting to ‘yes’ on a contract faster and more efficiently is what Agreemint is all about,” said Agreemint founder Peter Graham, who is joining ISG in an executive role. ”Agreemint’s AI-powered negotiating and contracting tools, coupled with GovernX’s extensive vendor compliance and risk management capabilities, makes GovernX the most complete solution for contract lifecycle management on the market today.”

For more information about ISG GovernX, visit this webpage. Further details about Agreemint can be found at agreemint.com.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220329005352/en/

Press:

Will Thoretz, ISG

+1 203 517 3119

will.thoretz@isg-one.com

Erik Arvidson, Matter Communications for ISG

+1 617 874 5214

isg@matternow.com

Source: Information Services Group, Inc.

FAQ

What is the significance of ISG's acquisition of Agreemint?

ISG's acquisition of Agreemint strengthens its GovernX platform, enhancing vendor compliance and risk management capabilities.

How does Agreemint's technology benefit ISG?

Agreemint's AI-powered tools speed up contract negotiations and improve the legal compliance of supplier contracts.

What are the expected financial impacts of the Agreemint acquisition for ISG?

The acquisition is expected to support ISG's goal of achieving consistent double-digit recurring revenue growth.

How much annual contact value does ISG GovernX manage?

ISG GovernX currently manages over $60 billion in annual contact value.

When was Agreemint founded?

Agreemint was founded by Peter Graham, who is now joining ISG in an executive role following the acquisition.