Cloud storage provider Dropbox has reportedly acquired Israel-based startup CloudOn for an undisclosed amount.
Although Dropbox did not formally announce the deal, CloudOn confirmed the acquisition in an announcement post on its homepage which read “Today, we’re taking the next step toward our vision of reimagining docs – by joining the Dropbox team. Our companies share similar values, are committed to helping people work better, and together we can make an even greater impact.”
“We’re thrilled to continue building things that help people work better – and we’re proud and excited to join the Dropbox team to help people be more productive every day.”
Founded in October 2009, CloudOn’s technology allows users to create, review, edit and share Microsoft Office and other files from any platform or device. The company had raised $26 million from investors including The Social+Capital Partnership, TransLink Capital, Foundation Capital and Rembrandt Venture Partners.
As part of the deal, CloudOn will not be accepting any more sign-ups and will shut down the service, currently being used by nine million people worldwide, on March 15. The startup said it will personally email all current users with details of the shutdown.
CloudOn has also set up a website with details and instructions for transferring any offline documents.
CloudOn’s 30-member team will form Dropbox’s first Israel office and will focus on research and development work.
Financial details of the deal remained undisclosed.