Dropbox announced it will acquire cloud technology company Tigris Data for $350 million, a deal described as one of the company’s largest so far. The transaction was announced on Thursday and is expected to close in the fourth quarter of 2026.
Purpose of the acquisition
Dropbox says the purchase will reinforce its AI infrastructure and support development of a new storage platform called DBX Agent Cloud. Initially, DBX Agent Cloud will offer object storage as a standalone product, enabling businesses to buy storage separately and use it with existing tools and applications that are compatible with Amazon S3.
Planned expansions for DBX Agent Cloud include features to help AI systems handle multiple content types — documents, images, audio and video — and filesystem-style capabilities that allow AI agents to manage files and maintain continuity across tasks and sessions.
Product updates and availability
Dropbox reports the updated, AI-enhanced experience has already reached more than 70,000 teams. The initial rollout is available to eligible Standard and Advanced customers in the United States, the United Kingdom and Australia. Wider availability is planned for 2027.
New product functionality will let users ask AI to perform supported tasks on their files, choose between different AI models, and connect Dropbox content to third-party tools such as ChatGPT, Claude and Muse.
About Tigris Data
Tigris Data was founded by former Uber engineers who worked on Uber’s storage infrastructure. The company provides cloud storage technology that helps businesses store and access data across regions by automatically placing data closer to the users and compute resources that need it, reducing access times and improving performance. Tigris Data raised $25 million in a Series A round last year.
Workforce and prior M&A
Dropbox said it currently has no plans to reduce headcount as part of the acquisition. The Wall Street Journal reported that the company cut about 9% of its global workforce last month.
While the Tigris deal appears to be Dropbox’s largest acquisition to date, the company has previously expanded its AI capabilities through acquisitions, including Reclaim.ai, Promoted.ai and Mobius Labs.
Why this matters
The purchase signals Dropbox’s strategic emphasis on building AI-supporting infrastructure, particularly around large-scale storage and agent integrations. S3-compatible object storage and future filesystem features could be important for enterprise customers and AI developers who need low-latency, regionally optimized data access and agent-driven workflows.
