Coda to be Acquired by Grammarly
Deal News | Dec 19, 2024 | Orrick
Coda, an all-in-one workspace platform, is set to be acquired by Grammarly, a leading AI assistant company, in a strategic deal aimed at transforming Grammarly into a comprehensive AI productivity platform. Coda's CEO, Shishir Mehrotra, will take on the role of CEO at Grammarly upon completion of the deal. Grammarly, known for its AI-driven communication and productivity enhancements, intends to leverage Coda's AI capabilities to expand its product offering beyond merely assisting with writing. The acquisition is seen as a major step for Grammarly towards redefining productivity through AI. Orrick, with a team led by Ramy Shweiky and long-time relationship partners, advised Coda on the acquisition.
Sectors
- Technology
- Artificial Intelligence
- Business Services
Geography
- United States – Coda and Grammarly are both headquartered and primarily operate in the United States, influencing the regional business and technology landscape.
Industry
- Technology – Coda and Grammarly operate in the technology sector, developing platforms and tools for productivity and communication.
- Artificial Intelligence – The integration of Coda's AI tools into Grammarly's existing offerings highlights the involvement of artificial intelligence in transforming productivity applications.
- Business Services – Coda's all-in-one workspace platform and Grammarly's AI assistant services cater to businesses seeking productivity and communication improvements.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Coda | Target | Company | Coda is an all-in-one workspace platform for businesses, emphasizing customization and efficiency in team workflows. |
| Grammarly | Buyer | Company | Grammarly is a widely used AI assistant known for enhancing communication and productivity for individuals and organizations. |
| Orrick | Legal Advisor | Company | Orrick is a law firm that advised Coda on the acquisition transaction. |
| Shishir Mehrotra | Incoming CEO | Person | CEO and Co-Founder of Coda, set to become the new CEO of Grammarly post-acquisition. |
| Alex Shevchenko | Co-Founder | Person | Co-Founder of Grammarly who articulates the company's vision of utilizing AI for enhancing productivity. |