Dropbox has entered into a definitive agreement to acquire HelloSign, an eSignature and document workflow platform with more than 80,000 customers, for $230 million.

The all cash deal is expected to close in Q1 2019.

“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 CEO Drew Houston.

“We’re thrilled to welcome HelloSign’s talented team to Dropbox and add their capabilities to our product suite.”

Houston said HelloSign has built a thriving business focused on eSignature and document workflow products, and together they can deliver a better experience to Dropbox users, simplify their workflows, and expand their market.

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, according to Dropbox.

But millions of people still rely on legacy pen and paper to complete these tasks, resulting in an inefficient and fragmented experience.

HelloSign’s product suite spans capabilities like eSignature and online fax with HelloSign and HelloFax, to fully customisable 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 CEO 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 f, subject to customary purchase price adjustments and closing conditions.

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