Dropbox to Acquire Tigris Data for $350M in Push to Strengthen AI Infrastructure

Dropbox has agreed to acquire cloud technology company Tigris Data for $350 million, a deal that appears to be its largest acquisition to date and one aimed at strengthening its AI infrastructure.

The purchase, announced Thursday, is expected to support the development of DBX Agent Cloud, a new storage platform built for businesses and developers creating AI models and agents. Dropbox told TechCrunch the transaction should close in the fourth quarter of 2026, and said it has no current plans to cut headcount as part of the deal. The company had already trimmed 9% of its global workforce last month, according to WSJ.

DBX Agent Cloud will initially sell object storage as a standalone product, letting businesses buy storage on its own and pair it with existing tools and applications built for Amazon S3. Dropbox also plans to add capabilities that help AI systems work with documents, images, audio and video, along with filesystem features that let AI agents manage files and keep continuity across tasks and sessions.

Separately, Dropbox is adding more AI to its core product. Users will be able to ask AI to carry out supported tasks using their files, pick between different AI models, and connect their Dropbox content to third-party tools including ChatGPT, Claude and Muse. The company says the updated experience has reached more than 70,000 teams, with an initial rollout for eligible Standard and Advanced customers in the U.S., U.K. and Australia and broader availability planned for 2027.

Tigris Data was founded by former Uber engineers who helped build the ride-hailing company's storage infrastructure. Its platform automatically places data closer to the users and computing resources that need it, reducing access times and improving performance. Tigris raised $25 million in a Series A round last year. The deal is not Dropbox's first AI-focused acquisition; it has previously bought Reclaim.ai, Promoted.ai and Mobius Labs.

Source: TechCrunch