DBX - Dropbox Acquiring DocSend for $165 Million
Always willing to grow through acquisitions, Dropbox (NASDAQ: DBX) is taking out its wallet for another asset buy. On Tuesday, the cloud-storage purveyor announced it has signed an agreement to purchase DocSend, a document security and analytics specialist. The purchase -- costing $165 million -- will be effected entirely in cash.
For Dropbox, the aim of the deal is to help broaden its suite of offerings. "DocSend is a perfect complement to our product roadmap and we're thrilled to welcome them to our team," CEO Drew Houston was quoted as saying. "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."
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Dropbox Acquiring DocSend for $165 Million