Dropbox buys electronic signature platform

The deal will lead to a more streamlined document processing experience, the company says

Dropbox buys electronic signature platform

Mortgage brokers are no strangers to using electronic documents. Now, a major acquisition will mean that storing and processing these documents is about to get a whole lot easier.

Digital storage platform Dropbox has announced that it is acquiring HelloSign, an electronic signature and document workflow platform with more than 80,000 customers. 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 the first quarter of this year.

“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 Drew Houston, co-founder and chief executive officer at Dropbox. “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 e-signature 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.”

“We waste so much time using clunky tools that were designed for yesterday’s work environment,” said Joseph Walla, co-founder and chief executive officer at HelloSign. “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.”