Acquisition expected to improve document workflows for hundreds of millions of Dropbox users
Dropbox, Inc. (NASDAQ: DBX), today announced it has entered into a definitive agreement to acquire HelloSign, an eSignature and document workflow platform with more than 80,000 customers.
“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. “We’re thrilled to welcome HelloSign’s talented team to Dropbox and add their capabilities to our product suite. HelloSign has built a thriving business focused on eSignature and document workflow products that their users love. Together, we can deliver an even better experience to Dropbox users, simplify their workflows, and expand the market we serve.”
Some of life’s most important moments require signing documents or completing forms — from opening an investment account or buying an apartment, to signing a major new customer or hiring a new employee. But even today, millions of people still rely on legacy pen and paper to complete these tasks, resulting in an inefficient and fragmented experience. HelloSign’s simple, easy-to-use product suite spans capabilities like eSignature and online fax with HelloSign and HelloFax, to fully customizable document workflow solutions with HelloWorks and HelloSign API — improving everyday processes while also helping customers close deals faster, onboard new hires with ease, and complete documents without errors.
“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. Together with Dropbox, we can bring more seamless document workflows to even more customers and dramatically accelerate our impact.”
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.