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Box acquires file search tool Butter.ai

Box CEO and co-founder Aaron Levie. Photo: Kim Kulish/Corbis via Getty Images

File-storage company Box has acquired Butter.ai, a startup whose software lets users search within files across multiple work applications. Butter.ai will be shutting down its application as part of the deal.

Bottom line: Box's customers—other businesses—have to contend with an ever-growing amount of data and files, making it critical for workplace tool providers like Box to help them sift through and filter all that information.