Dropbox Inc. DBX, +3.45% announced Tuesday morning that it plans to purchase DocSend, a document-sharing platform, for $165 million in cash. DocSend “gives customers visibility into what happens to their documents after they send them,” Dropbox said in a release, letting teams track engagement with documents they’ve sent. Dropbox argues that the acquisition, expected to close in the first quarter, will help the company offer tools that let customers “manage end-to-end document workflows.” The company previously acquired HelloSign, which lets customers obtain signatures on documents. Dropbox shares are up 2.7% in Tuesday morning trading. They’ve added 15% over the past three months as the S&P 500 SPX, +1.83% has risen 6%.
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