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Dropbox to buy electronic signature firm HelloSign for $230 million

The Dropbox app logo seen on a mobile phone in this illustration photo October 16, 2017. REUTERS/Thomas White/Illustration

(Reuters) - Data sharing and storage company Dropbox Inc said on Monday it would buy electronic signature company HelloSign for $230 million in cash, which will expand its portfolio of workflow-related products.

Dropbox, which started as a free service to share and store files, has been building up its enterprise software offerings.

San Francisco-based HelloSign was founded in 2010 and has more than 80,000 customers.

The deal is expected to close in the first quarter of 2019.

Reporting by Akanksha Rana in Bengaluru; Editing by Bernard Orr

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