The cloud service provider is expanding its reach in the online documents arena to compete with the likes of DocuSign and Box.

As we hit the one-year anniversary of the mass movement to remote working, virtual meetings and online activities, Dropbox has struck a multimillion-dollar deal to strengthen its market position when it comes to online documents.

The cloud service provider, which has more than 700m registered users across 180 countries, has agreed to acquire document sharing and analytics company DocSend for $165m. The acquisition is expected to close in the first quarter of the company’s 2021 fiscal year.

Having acquired e-signature company HelloSign in 2019 for $230m, Dropbox is expanding its reach in the online documents arena as the need for digital tools continues to rise.

Based in San Francisco, DocSend was founded in 2013 and enables companies to share documents easily and offers real-time feedback.

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