Competition in the cloud storage industry is heating up as Dropbox on Wednesday announced they have consolidated their three Pro account offerings into a single plan.

The new Dropbox Pro plan includes 1TB of storage for $9.99 per month. Up to this point, Dropbox's tiered Pro plans afforded 100GB, 200GB and 500GB of storage for a monthly fee of $9.99, $19.99 and $49.99, respectively.

In addition to more storage capacity, Dropbox is also including some new sharing and security tools.

For starters, users can now password-protect their shared links to create an additional layer of security over content. These protected links now also carry an expiration date so you know exactly how long your link stays live.

Furthermore, Dropbox now lets users pick whether recipients can edit or just view files within their shared folder via view-only permissions.

Last but not least, Dropbox has implemented a remote wipe feature that grants users the ability to delete their Dropbox files from a lost or stolen device while retaining the data in the cloud. If you've ever had a smartphone or notebook come up missing, you've probably been just as worried about what's on the device as you are about getting it back.

The new plan is the latest offensive move in the ongoing price war between the industry's top cloud storage providers. If you recall, Google dropped the price of its 1TB offering from $49.99 to $9.99 back in March.