American file hosting service startup Dropbox has announced that it will be buying DocSend for $116 million.

Dropbox offers cloud storage, file synchronization, personal cloud, and client software for its customers; it is also used to send and monitor confidential files by sending a secure link rather than an attachment.

On the other hand, DocSend is a company that also uses a link-based document sharing approach to keep companies` private data safe, especially in the aspect of a remote work environment.

“We’re announcing that we’re acquiring DocSend to help us deliver an even broader set of tools for remote work, and DocSend helps customers securely manage and share their business-critical documents, backed by powerful engagement analytics,” says Drew Houston, CEO of Dropbox.

In 2019, Dropbox also acquired HelloSign in order to employ its e-signature feature for the company to better keep the security of the documents.

Dropbox CEO Drew Houston mentioned in a statement that they are planning to integrate Dropbox, DocSend, and HelloSign together as an "end-to-end suite" to manage sensitive document workflows from start to finish.

“Our goal is to accelerate adding value through additional DocSend functionality as well as deeper integrations with Dropbox,” said a Dropbox spokesperson.

It is also worth noting that Houston and DocSend CEO Heddleston have a good working relationship with each other; Heddleston worked for Dropbox in 2010 as a summer intern.