Dropbox acquires Tigris Data for $350M to enhance AI infrastructure

Dropbox announced the acquisition of cloud technology company Tigris Data for $350 million, marking its largest deal to date, according to TechCrunch.

The acquisition aims to strengthen Dropbox's AI infrastructure and support the creation of DBX Agent Cloud, a new storage platform targeted at businesses and developers building AI models and agents.

DBX Agent Cloud will initially offer object storage as a standalone product compatible with tools built for Amazon S3, enabling businesses to purchase storage independently.

In addition to infrastructure improvements, Dropbox plans to enhance its core product with AI capabilities allowing users to perform tasks using their files, select different AI models, and connect Dropbox content to third-party tools like ChatGPT, Claude, and Muse.

Further expansions of DBX Agent Cloud will include features to help AI systems handle various content types such as documents, images, audio, and video, along with filesystem features for AI agents to manage files and maintain task continuity.

Dropbox stated the transaction is expected to close in the fourth quarter of 2026 and currently has no plans for headcount reductions related to the acquisition, despite a recent 9% global workforce cut reported by WSJ.

The updated AI-enhanced Dropbox experience has already been adopted by more than 70,000 teams, indicating early traction for the new capabilities.