Dropbox to buy DocSend for $214m

Dropbox will buy secure document sharing and analytics vendor DocSend - and its more than 17,000 customers - for US$165 million (A$214 million).

The company said it intended to package DocSend’s technology with its own, as well as that of e-signature startup HelloSign that it bought back in 2019.

“DocSend is a perfect complement to our product roadmap,” Dropbox CEO Drew Houston said.

“By bringing Dropbox, HelloSign, and DocSend together, we’ll be able to offer a full suite of secure, self-serve products to help them manage critical document workflows from start to finish.”

DocSend is designed to give customers “visibility into what happens to their documents after they send them, adding a layer of intelligence on top of the scale and distribution of the Dropbox content platform,” the vendor noted.

The tool could be used by client services teams or creatives to “deliver proposals and track engagement”, and then to have them digitally signed with HelloSign.

DocSend said that joining Dropbox would enable the company and its technology to “rapidly scale”.

The acquisition is expected to close in Q1 2021.