Dropbox has announced that it plans to acquire HelloSign, a San-Francisco startup which offers e-signature, digital workflow, and electronic fax solutions.
Valued a $230mn, the deal will be Dropbox’s largest acquisition to date.
HelloSign allows users to sign documents digitally and request signatures. The software can also be embedded in third-party software.
The startup has more than 80,000 customers including Instacart Inc. and Twitter and it will remain an independent business following the deal.
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“We’re thrilled to welcome HelloSign’s talented team to Dropbox and add their capabilities to our product suite,” said Dropbox co-founder and CEO Drew Houston.
He added that Dropbox, with HelloSign’s help, will strive to “deliver an even better experience to Dropbox users, simplify their workflows, and expand the market we serve.”
Through the purchase, Dropbox will establish itself as a competitor to other workflow and software companies like Adobe and DocuSign.
“We waste so much time using clunky tools that were designed for yesterday’s work environment,” added 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.
"Together with Dropbox, we can bring more seamless document workflows to even more customers and dramatically accelerate our impact.”
The deal is expected to close this quarter.