Acquisition expected to improve document workflows for hundreds of
millions of Dropbox users
SAN FRANCISCO--(BUSINESS WIRE)--Jan. 28, 2019--
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.
About Dropbox
Dropbox is a leading global collaboration platform that's transforming
the way people work together, from the smallest business to the largest
enterprise. With more than 500 million registered users across more than
180 countries, our products are designed to help unleash the world’s
creative energy and establish a more enlightened way of working.
Headquartered in San Francisco, CA, Dropbox has 12 offices around the
world. For more information on our mission and products, visit dropbox.com.
About HelloSign
HelloSign simplifies work for millions of people. Over 80,000 customers
world-wide trust the HelloSign platform – which includes eSignature,
document workflow and online fax solutions with HelloSign, HelloWorks
and HelloFax – to automate and manage their most important business
transactions. For more information visit http://www.HelloSign.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20190128005320/en/
Source: Dropbox, Inc.
Media:
Dropbox
Saman Asheer
Press@dropbox.com
HelloSign
Jasmine Castro-Torres
Press@hellosign.com
DropboxInvestors:
Darren Yip
IR@dropbox.com