Dropbox, a Cloud Storage company, Acquires HelloSign

Dropbox, a cloud storage solutions company, on Monday announced that it has acquired HelloSign, a company providing an easy-to-use eSignature and document workflow platform. The transaction size is USD $230 million in an all-cash deal.

San Francisco based company, HelloSign, brings product capabilities like eSignature and online fax with HelloSign, HelloFax, HelloWorks, and HelloSign APIs. HelloWorks and HelloSign APIs can help in fully customizing document workflows. HelloSign has a total of 80,000 customers.

In the announcement, HelloSign informed their existing customer that there will not be any changes in day-to-day experiences with their products. HelloSign will continue to operate as normal within Dropbox.
The acquisition makes sense in that the HelloSign solves the traditional problem of physically signing documents in the digital era of digital transformation and aligns with the Dropbox's goal in making Dropbox a place for people to come together to co-create and collaborate on their content—connecting people with the functionality they need to do their best work.

Dropbox Co-founder and Chief Executive Officer Drew Houston, said, “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. 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.”

The relationship between Dropbox and Hellosign is not new when Dropbox announced their Extensions partnership. The HelloSign acquisition by Dropbox brings it to the competition with companies like DocuSign and Adobe.