Cloud-based file management platform Dropbox is in agreement to acquire an eSignature and document workflow platform to boost its offering.
San Francisco-based HelloSign offers an online signature service or ‘eSignature’ product alongside document workflow and online fax solutions.
Dropbox will integrate HelloSign’s technology to allow users to sign documents without the need to print it, which is says will help to close deals faster and complete documents without errors.
“With over an exabyte of data on our platform, millions of people already use Dropbox as a place to collaborate on their most important content,” said Dropbox Co-founder and Chief Executive Officer Drew Houston.
“Together, we can deliver an even better experience to Dropbox users, simplify their workflows, and expand the market we serve.”
Under the terms of the agreement, Dropbox will acquire HelloSign for $230 million in cash, subject to customary purchase price adjustments and closing conditions. The acquisition is expected to close in Q1 2019.
HelloSign currently has more than 80,000 customers world-wide.
“We waste so much time using clunky tools that were designed for yesterday’s work environment,” said HelloSign Co-founder and Chief Executive Officer Joseph Walla.
“Over the past 10 years, Dropbox has built a trusted global brand focused on transforming people’s working lives.
“We share a design philosophy based on building the best experience for end-users, fueling our efficient business models and sales strategies.”
Dropbox has more than 500 million registered users across more than 180 countries, and is also headquartered in San Francisco, with 12 offices around the world.