Dropbox acquires Tigris Data for $350M
Cloud technology company Dropbox has acquired Tigris Data for $350 million to bolster its AI infrastructure. The deal appears to be the company’s largest acquisition to date.
Announced Thursday, the transaction is expected to strengthen Dropbox’s AI infrastructure capabilities and support the development of DBX Agent Cloud, a new storage platform aimed at businesses and developers building AI models and agents. Dropbox said the deal is expected to close in the fourth quarter of 2026 and that it has no plans to reduce headcount as part of the acquisition.
Tigris Data was founded by former Uber engineers who helped develop the ride-hailing company’s storage infrastructure. The company provides cloud storage technology that helps businesses store and access data across different regions. Its 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.
DBX Agent Cloud will initially offer object storage as a standalone product, allowing businesses to purchase storage independently and use it with existing tools and applications built for Amazon S3. Dropbox also plans to bring more AI capabilities to its core product, including the ability for users to ask AI to perform supported tasks using their files, choose between different AI models, and connect their Dropbox content to third-party tools such as ChatGPT, Claude and Muse.
