Dropbox acquires Tigris Data for $350 million to bolster its AI infra

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Dropbox is acquiring cloud technology company Tigris Data for $350 million, a deal TechCrunch's report describes as what appears to be Dropbox's largest acquisition to date. Announced Thursday, the purchase is meant to strengthen Dropbox's AI infrastructure and support DBX Agent Cloud, a storage platform for businesses and developers building AI models and agents. Dropbox told TechCrunch by email that the transaction is expected to close in the fourth quarter of 2026.

Businesses and developers building AI models and agents are the audience for the $350 million price, the fourth-quarter 2026 close, and stand-alone DBX Agent Cloud object storage for Amazon S3 tools. Eligible Standard and Advanced customers in the U.S., the U.K., and Australia are the first customers for the updated experience, which Dropbox says has reached more than 70,000 teams. Broader availability is planned for 2027.

The offer: Dropbox Tigris Data for $350 million

Dropbox is acquiring Tigris Data for $350 million and announced the deal Thursday. In an email to TechCrunch, the company said it expects the transaction to close in the fourth quarter of 2026 and that it currently has no plans to reduce headcount as part of the acquisition. WSJ reported that Dropbox already cut 9% of its global workforce last month. The purchase is meant to strengthen Dropbox's AI infrastructure and support development of DBX Agent Cloud, a new storage platform.

Tigris Data was founded by former Uber engineers who helped develop the ride-hailing company's storage infrastructure. Its cloud storage technology helps businesses store and access data across different regions. The platform automatically positions data closer to the users and computing resources that need it, helping reduce access times and improve performance. Tigris Data raised $25 million in a Series A funding round last year. At $350 million, the Dropbox acquisition is the one that appears to be the company's largest.

How to get Dropbox Tigris Data for $350 million

DBX Agent Cloud will initially offer object storage as a stand-alone product, and businesses will also be able to purchase that storage independently. Dropbox says it works with existing tools and applications built for Amazon S3 (Simple Storage Service), the cloud service that lets companies store and retrieve large volumes of data. The $350 million is the price Dropbox is paying to acquire Tigris Data. Dropbox told TechCrunch the transaction is expected to close in the fourth quarter of 2026.

The initial rollout of the updated experience is available to eligible Standard and Advanced customers in the U.S., the U.K., and Australia. Dropbox says that experience has already reached more than 70,000 teams, and broader availability is planned for 2027. On the core product, users will be able to ask AI to perform supported tasks using their files, choose between different AI models, and connect Dropbox content to ChatGPT, Claude, and Muse. Those are three third-party tools Dropbox has named.

How Dropbox Tigris Data for $350 million compares

Dropbox has already acquired AI-focused companies, including Reclaim.ai, Promoted.ai, and Mobius Labs, expanding its AI capabilities through M&A. The Tigris Data deal appears to be the largest, at $350 million, and Dropbox expects it to close in the fourth quarter of 2026. Tigris Data raised $25 million in a Series A funding round last year. Former Uber engineers founded the company and built storage that stores and accesses data across different regions, closer to users and computing resources, helping reduce access times and improve performance.

DBX Agent Cloud will initially offer object storage sold on its own for tools and applications built for Amazon S3, the service businesses use to store and retrieve large volumes of data. Tigris Data's platform automatically positions data closer to users and computing resources across regions, helping reduce access times and improve performance. On the core product, users will be able to run supported AI tasks on files, choose among AI models, and connect Dropbox content to ChatGPT, Claude, and Muse.

Who should buy Dropbox Tigris Data for $350 million

Businesses and developers building AI models and agents are the buyers Dropbox names for DBX Agent Cloud. Those buyers will be able to purchase object storage as a stand-alone product and use it with tools built for Amazon S3 (Simple Storage Service). The initial rollout of the updated experience is available to eligible Standard and Advanced customers in the U.S., the U.K., and Australia. Dropbox says that experience has reached more than 70,000 teams, with broader availability planned for 2027.

Teams that need AI to work with documents, images, audio, and video are the audience for DBX Agent Cloud features Dropbox plans to add. Filesystem features will allow AI agents to manage files and maintain continuity across tasks and sessions. Users will be able to ask AI to perform supported tasks on their files, choose between models, and connect Dropbox content to ChatGPT, Claude, and Muse. Tigris Data stores data across regions and places it closer to users and computing resources.

The catch with Dropbox Tigris Data for $350 million

Dropbox announced the acquisition Thursday and told TechCrunch by email that the transaction is expected to close in the fourth quarter of 2026. The company said it currently has no plans to reduce headcount as part of the acquisition. WSJ reported that Dropbox already cut 9% of its global workforce last month. That $350 million appears to be Dropbox's largest acquisition. Tigris Data raised $25 million in a Series A funding round last year and was founded by former Uber engineers.

DBX Agent Cloud will first offer object storage as a stand-alone product for tools built for Amazon S3. Dropbox plans later support for documents, images, audio, and video, plus filesystem features so AI agents can manage files and maintain continuity across tasks and sessions. It names no release date for those additions. The initial rollout is for eligible Standard and Advanced customers in the U.S., the U.K., and Australia, with broader availability planned for 2027. Core AI links to ChatGPT, Claude, and Muse.