Dropbox, Inc. has acquired FormSwift, a cloud-based document management service provider. Financial terms of the deal were not disclosed.
This is technology M&A deal number 1,041 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Dropbox Acquires FormSwift
Dropbox, founded in 2007, is based in San Francisco, California. The company has 3,793 employees listed on LinkedIn. Dropbox’s areas of expertise include cross-platform file sync, file sharing, online backup, cloud storage, collaboration, smart workspace, team communication and productivity.
FormSwift, founded in 2012, is based in San Francisco, California. The company has 32employees listed on LinkedIn. FormSwift offers a cloud-based service that enables individuals and businesses to easily customize, sign and download business, legal or personal forms.
The acquisition will bring FormSwift's library of document templates to Dropbox's portfolio and further its strategy to create an end-to-end document workflow capability, the companies said.
Dropbox Acquires FormSwift: Executive Insight
Chetan Dandekar, VP and general manager of document workflows group, Dropbox, commented:
“At Dropbox, we’re building tools to help our customers succeed in today’s virtual-first world by modernizing manual workflows and digitizing tasks. As part of this, we’re focused on building an end-to-end agreement workflow experience, most recently with simple, secure tools like Dropbox Sign, Dropbox Forms, and DocSend. With a similar customer base of small businesses and freelancers, and a library of commonly used forms and agreement templates, we firmly believe that FormSwift is a strong addition to our document workflows product suite, and will help us bring even more value to our customers.”
Vik Tantry, FormSwift co-founder and CEO, added:
“Over the last decade, FormSwift has become a leading provider of tools to help people easily create, edit, sign, and collaborate on documents and workflows in the cloud, eliminating unnecessary printing, faxing, and snail mail. However, many people are still spending valuable time and money searching for and drafting business agreements and other templates necessary to complete their work, and are looking for more waysstreamline their workflows and improve efficiency. By joining forces with Dropbox, we can better scale our capabilities to make work easier for a larger number of small businesses and freelance customers.”
