09:28 AM EDT, 05/22/2024 (MT Newswires) -- (Updates with details after the first paragraph.)

DocuSign ( DOCU ) wants to remain a public company, Chief Executive Allan Thygesen told CNBC after reports surfaced that the company had drawn takeover interest from private equity firms.

Private equity firms Bain Capital and Hellman & Friedman were contesting to acquire DocuSign ( DOCU ) for nearly $13 billion, Reuters reported in January, citing sources with knowledge of the matter. The next month, Reuters reported that the talks hit an impasse over pricing.

In the same month, DocuSign ( DOCU ) said it planned to cut its workforce by roughly 6% as part of a restructuring plan to strengthen its operations, expecting a majority of the $28 million to $32 million in non-recurring charges to be incurred in Q1 of 2025.

DocuSign ( DOCU ) reported higher year-over-year fiscal Q4 results in March and guided for 2025 revenue that met analyst expectations.

"I think we have mostly convinced investors that there's adults in charge, they're ahead of the plan, that we've stabilized things, and now they want to see how we do with this new stuff," CNBC quoted Thygesen as saying.

Hellman & Friedman declined to comment in response to MT Newswires' request, while DocuSign ( DOCU ) and Bain Capital did not immediately respond.

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