File hosting & cloud services company Dropbox plans to acquire HelloSign for $230 million.
Dropbox is apparently keen on diversifying into workflow processes to expand its storage capabilities – something that it hopes to achieve by buying HelloSign. In addition to offering document workflow solutions, HelloSign also operates eSignature services.
For HelloSign, the deal could potentially open doors to a bigger market and/or allow a broader access to financial capital. “Together with Dropbox, we can bring more seamless document workflows to even more customers and dramatically accelerate our impact,” HelloSign CEO Joseph Walla said in a blog post. According to Whitney Bouck, COO at HelloSign, the company will remain an independent entity within the Dropbox family, if the acquisition happens.
Subject to regulatory approval, the deal is expected to close in the first quarter.