Box, Inc. (NYSE:BOX) will acquire SignRequest, a cloud-based electronic signature company.
The acquisition is anticipated to close in Box’s first fiscal quarter ending on April 30, 2021, subject to customary closing conditions. The company will pay an aggregate purchase price of $55m. Upon the close of the transaction, SignRequest will become a wholly owned subsidiary of Box. The team – led by Geert-Jan Persoon, CEO – is expected to join Box and will begin integrating SignRequest with Box to develop Box Sign.
Led by Aaron Levie, cofounder and CEO, Box provides more than 100,000 businesses, including 69% of the Fortune 500, with a platform to create, share, and govern their content in the cloud.
The addition of SignRequest and introduction of Box Sign – an e-signature capability that will be developed on SignRequest’s technology and natively integrated into Box – will allow customers to have access to secure electronic signatures natively integrated into Box where their content already lives. Box Sign can be used by Legal, HR, Sales and Compliance teams. It is expected to be generally available in the summer of 2021 and its native e-signature capabilities are expected to be included in Box business and enterprise plans with additional functionality such as e-signature APIs available at an incremental cost.