AEQUO has advised Onit Inc., a leading provider of enterprise workflow automation and AI solutions, including enterprise legal management, contract lifecycle management and business process automation, on the acquisition of AXDRAFT, a Y Combinator-backed document automation company. The company helps corporate legal departments draft legal documents 10 times faster and complete contracts like nondisclosure agreements and service agreements in less than five minutes. Based in Kyiv, Ukraine, it was founded in 2017 and works with customers including Sandoz and Louis Dreyfus Company.
AXDRAFT is now AXDRAFT, an Onit Company, and will operate as an independent subsidiary. This acquisition is Onit’s third in the last 19 months and the second deal announced in 30 days.
AEQUO’s team provided comprehensive legal support in all matters of Ukrainian law, including conducting the legal due diligence of the target’s subsidiary in Ukraine, drafting the transaction documentation and assisting with the completion of the transaction. The project team is led by M&A partner Anna Babych, and included head of IT practice Mykyta Polatayko, counsel Michael Lukashenko and associates Mariia Derechina, Yelyzaveta Shram and Anna Yarega.
“We are glad to have been able to provide support to our client on such a significant deal in these challenging times. It is an honour to be involved in the unprecedented transaction demonstrating success of Ukrainian legaltech startup,” comments Anna Babych.