Dropbox Acquires HelloSign; Counters DocuSign, Adobe in eSignature Market
Dropbox is acquiring HelloSign, an eSignature and document workflow platform that competes against DocuSign and Adobe’s technologies. The $230 million buyout pushes Dropbox further beyond basic file sync and sharing technologies toward compliance-driven solutions for compliance-driven partners and customers.
HelloSign potentially gives Dropbox even deeper hooks into third-party software ecosystems. The acquired business has integrations with Box, Dropbox, Evernote, Hubspot CRM, Microsoft, Oracle, Salesforce and Slack. We’ll be watching to see if the HelloSign-Box integration remains in place once the Dropbox deal is finalized sometime later this quarter.
For its third quarter in 2018, Dropbox’s revenue was $360.3 million, up 26 percent from the same period last year. The company is expected to announce Q4 2018 results on February 21, 2019.
Within the IT channel, the overall file sync and sharing software market has a mixed track record. Box and Dropbox have partner programs, but they seem to focus more heavily on ISV relations and integrations rather than traditional VARs and MSPs. Within the MSP sector, Axcient and Datto both offer file sync and sharing products in the segment, but they are considered niche add-ons compared to each company’s more successful data protection platforms.