SoftBank-Backed Icertis Said to Explore $5 Billion Sale With Goldman Sachs

Icertis Inc. is reportedly in early discussions about a potential sale that could value the AI-powered contract management firm at up to $5 billion according to Bloomberg.

The company, backed by SoftBank Group Corp. and based in Bellevue, Washington, is working with Goldman Sachs Group Inc. to explore the transaction, according to people familiar with the matter.

Icertis has not made a final decision, and no formal offer has been made. Buyout firms have shown initial interest in the potential deal as Bloomberg reports.

Why the Move Happened

Icertis provides an AI-driven platform for managing contracts, with operations in the U.S. and India according to Tracxn.

SoftBank first invested in Icertis in 2021, valuing the company at $5 billion at the time as reported.

Goldman’s involvement in the potential deal highlights its growing focus on India and private equity opportunities according to Business Standard.

The firm has increased its presence in Mumbai and Bengaluru, betting on India’s expanding financial and technology markets as Business Standard reports.

What Analysts Are Watching

Goldman Sachs has been active in capital markets, betting on a potential rebound in IPO and M&A activity for 2026 according to MarketBeat.

The firm’s CEO, David Solomon, sees 2026 as a breakout year for dealmaking, citing factors like deregulation and AI-driven business transformation as reported.

The potential Icertis sale also comes amid broader trends in private equity and venture-backed exits, with firms seeking liquidity in a high-interest-rate environment according to MarketBeat.

Analysts are watching whether the deal will move forward and what impact it might have on the contract management market, where Icertis competes with DocuSign and Zoho according to Tracxn.

The firm’s valuation has remained stable at $5 billion, despite changes in the broader venture capital landscape as Tracxn indicates.

Goldman’s push into India has already resulted in expanded underwriting, private credit, and advisory services according to Bloomberg.

The bank has positioned itself to compete more aggressively in the region, increasing staffing and capital commitments to build market share according to Bloomberg.

How Markets Reacted

Goldman Sachs has seen mixed reactions to its recent public statements, with some analysts expressing optimism about the firm’s strategic direction according to MarketBeat.

The firm is also expanding its alternatives business, with plans to raise between $75 billion and $100 billion in annual fundraising according to Investing.com.

Goldman’s leadership changes and hiring in India suggest a long-term bet on the region’s financial services growth as Business Standard reports.

The bank’s ability to win mandates in both private and public deals is a key focus for market analysts according to Bloomberg.

Investor Implications

If Icertis completes a $5 billion sale, it would represent a significant return for SoftBank and other investors according to Bloomberg.

Goldman’s role in the deal highlights its broader strategy to expand its M&A advisory and private equity financing services according to Business Standard.

The deal could also signal a shift in the contract management software market, where consolidation is expected to increase according to Tracxn.