Dropbox, Inc. (NASDAQ: DBX), a leading global collaboration platform, 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.
Forward Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 related to Dropbox’s acquisition of JN Projects, Inc. d/b/a HelloSign that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements in this communication include, among other things, statements about the potential benefits of the proposed transaction, the anticipated timing of closing of the proposed transaction, our ability to integrate the platforms and potential growth opportunities. Words such as “will,” “can,” “expect,” and similar expressions are intended to identify forward-looking statements.
You should read any such forward-looking statements carefully, as they involve a number of risks, uncertainties and assumptions that may cause actual results to differ significantly from those projected or contemplated in any such forward-looking statement. Those risks, uncertainties and assumptions include the following possibilities, the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between the parties; the risk that the proposed transaction may not be completed in a timely manner or at all; the failure to satisfy any of the conditions to the consummation of the proposed transaction; the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Dropbox and HelloSign do business; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction; the ability to complete the acquisition and integration of HelloSign successfully; and other factors that may affect future results of Dropbox and HelloSign. Additional factors that could cause results to differ materially from those described above can be found in Dropbox’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, which is on file with the Securities and Exchange Commission (the “SEC”) and in other documents Dropbox files with the SEC.