Content platform company, Dropbox Inc. has today announced signing an agreement to acquire DocSend, a secure sharing and document analytics company with more than 17,000 customers, for US$165 million.
As the world shifts to remote work, demand for digital tools that help businesses address collaboration challenges and accelerate their journeys to the cloud has grown. Decision to acquire DocSend could help Dropbox in meeting these growing needs.
By bringing Dropbox, DocSend and HelloSign (a Dropbox e-signature company) together, the company aims to offer customers access to a full suite of products to manage end-to-end critical document workflows — giving them more control and visibility over their content, especially when working with external parties.
The combination of these three platforms, according to the company media release, will help customers across industries manage end-to-end document workflows—from closing deals to onboarding teams—giving them more control over their business results.
Under the terms of the agreement, Dropbox’s acquisition of DocSend is subject to customary purchase price adjustments and closing conditions. The acquisition is expected to close in Q1 2021.
This California-based file-hosting company Dropbox Inc. has more than 700 million registered users across 180 countries.