Box Inc. (NYSE: BOX) will purchase SignRequest, the online electronic signature company.
The acquisition is expected to close during the first quarter of the fiscal year, which is scheduled to end on April 30 2021, subject to customary closing conditions. It is expected that the Company will pay an overall purchase cost of $55 million. Following the closing of the transaction, SignRequest will become an integral part of Box. The team, led by GeertJan Persoon, CEO – is set to be a part of Box and begin integrating SignRequest with Box to build Box Sign.
Box to Acquire SignRequest for $55M
Directed by Aaron Levie, cofounder and CEO, Box provides over 100,000 companies, including 69 per cent of the Fortune 500, with a platform for creating, sharing and managing their content on the cloud.
Including SignRequest and the launch of Box Sign – an e-signature technology built using SignRequest’s technology and then integrated into Box will enable customers to use secure electronic signatures, which are natively in Box in which their content already exists.
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Box Sign is a tool that can be utilized for Legal, HR, Sales and Compliance teams. It’s expected to become generally available by the summer of 2021. The native e-signature capabilities are anticipated to be integrated into Box’s enterprise and business plans, with additional features such as e-signature APIs for an extra cost.