July 24, 2015

Dropbox acquires enterprise communication service Clementine

Dropbox, a service many people use to store files, announced this week that it will acquire Clementine, a company that provides communication services to enterprises.

Dropbox, a service many people use to store files, announced this week that it will acquire Clementine, a company that provides communication services to enterprises. Many of Clemetine's existing services will be transitioned into Dropbox applications. 

In addition to its individual usership, TechCrunch reports that 100,000 businesses have built Dropbox into their operations. As such purchasing a communications solutions provider improves the company's ability to accommodate a variety of business needs like conference calls and chat services. 

"We're now excited to announce the next stage of our journey — we're joining Dropbox," the company said. "Our mission and passion for workplace collaboration remains the same. Our stage will grow dramatically as Dropbox builds on our technology to engage with its over 400 million users and 100,000 businesses."

Dropbox also boasts 400 million users worldwide, who use the storage platform to share and protect documents. Since its inception, Dropbox has expanded its mobile capabilities and other services that make using the platform easier for members who are on the go. 

By integrating Clementine's functionalities into Dropbox, business customers may find new ways to interface with Dropbox technology. This could potentially open up new revenue streams and diversify a brand that's predominantly known for one thing: file storage. Time will tell exactly how these companies marry their technology to improve the user experience but an acquisition is the first step toward making those innovations official. 

With the guidance of an experienced M&A advisor, your company can pursue, negotiate and sign a merger or acquisition deal that achieves growth objectives and sets your company up for success. Contact us today to learn more about the benefit of working with an advisor.