Box Inc, a cloud-storage company, said on Thursday it has agreed to
acquire Crocodoc, a small start-up that provides the technology behind
document viewers found on some of the world's most popular websites,
including Facebook and Dropbox.
The acquisition would provide Box's
users with more interactive features such as the ability to annotate
documents or create slide shows, said Aaron Levie, Box's chief
Levie declined to disclose the terms of the deal.
Crocodoc, a seven-person start-up founded in 2007 by four engineering
students from the Massachusetts Institute of Technology, had previously
raised roughly $1 million from angel investors.
At the heart of
Crocodoc's technology is the ability to convert documents in such
formats as Word and PDF into ones more suitable for the interactive Web.
said its licensing deals with existing customers, which include
LinkedIn Corp, would continue without interruption although the
technology could be rebranded.
Faced with competition from giants
such as Microsoft Corp and Google Inc, young storage companies like Box
and Dropbox in recent months have sought to differentiate themselves and
aggressively flesh out their functionality through small acquisitions.
held Dropbox, one of Box's fiercest rivals, signaled it would also
expand its offerings when in March it snapped up the design team behind
Mailbox, an email app.
© Thomson Reuters 2013