Dropbox to Acquire DocSend
09 Marzo 2021 - 8:15AM
Business Wire
Acquisition will bring customers an end-to-end suite of secure,
self-serve products for content collaboration, sharing, and
e-signature
Dropbox, Inc. (NASDAQ: DBX), today announced it has entered into
a definitive agreement to acquire DocSend, a secure document
sharing and analytics company with more than 17,000 customers.
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“Given the dramatic rise in remote work, there’s increased
demand for digital tools that help people organize their content
and seamlessly collaborate with each other,” said Dropbox
Co-Founder and Chief Executive Officer, Drew Houston. “DocSend is a
perfect complement to our product roadmap and we’re thrilled to
welcome them to our team. 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.”
As work becomes more distributed, effective collaboration with
external parties feels more siloed and results can be difficult to
measure. DocSend gives 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. For example, client services teams and creative
professionals who already rely on Dropbox to organize and
collaborate on presentations and projects can use DocSend to
deliver proposals and track engagement, and HelloSign to manage
contracts and invoices. The combination of Dropbox, HelloSign, and
DocSend will help customers across industries manage end-to-end
document workflows—from closing deals to onboarding teams—giving
them more control over their business results.
“Our roots are in helping startups navigate the fundraising
process and empowering entrepreneurs to chase their dreams by
giving them more visibility and control over the pitch process. As
we’ve grown, we’ve realized that the ability to securely share
content and engage with documents after they are sent offers
powerful benefits to a variety of customer segments,” said Russ
Heddleston, DocSend Co-Founder and Chief Executive Officer. “By
joining Dropbox, we’ll be able to rapidly scale, bringing our
vision and capabilities to the hundreds of millions of people
around the world who already trust Dropbox with their most
important content.”
Under the terms of the agreement, Dropbox will acquire DocSend
for $165 million in cash subject to customary purchase price
adjustments and closing conditions. The acquisition is expected to
close in Q1 2021 and is expected to have an immaterial impact on
2021 operating results.
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 DocSend that involve
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 DocSend 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 DocSend successfully; and other factors that may
affect future results of Dropbox and DocSend. Additional factors
that could cause results to differ materially from those described
above can be found in Dropbox’s Annual Report on Form 10-K for the
year ended December 31, 2020, which is on file with the Securities
and Exchange Commission (the “SEC”) and in other documents Dropbox
files with the SEC. Except as required by law, Dropbox assumes no
obligation to update these forward-looking statements publicly or
to update the reasons actual results could differ materially from
those anticipated in the forward-looking statements, even if new
information becomes available in the future.
About Dropbox
Dropbox is one place to keep life organized and keep work
moving. With more than 700 million registered users across 180
countries, we’re on a mission to design a more enlightened way of
working. Dropbox is headquartered in San Francisco, CA. For more
information on our mission and products, visit dropbox.com.
About DocSend
DocSend enables companies to share business-critical documents
with ease and get real-time actionable feedback. With DocSend's
security and control, startup founders, investors, executives, and
business development professionals can build business partnerships
that have a lasting impact. Over 17,000 customers of all sizes use
DocSend today. Learn more at docsend.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210309005402/en/
Media Alissa Stewart press@dropbox.com
Investors Rob Bradley IR@dropbox.com Source: Dropbox
Inc.
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