Dropbox Acquires Tigris Data for $350M to Build AI Infrastructure for Agents

Dropbox has agreed to acquire cloud technology company Tigris Data for $350 million in what appears to be its largest acquisition to date, as it pushes deeper into AI infrastructure.

Announced on Thursday, the deal will support DBX Agent Cloud, a new storage platform for businesses and developers building AI models and agents. Dropbox said the transaction is expected to close in the fourth quarter of 2026 and that it has no plans to cut jobs as part of the deal, following a 9% reduction in its global workforce last month.

DBX Agent Cloud will initially offer stand-alone object storage compatible with tools built for Amazon S3. Dropbox plans to add capabilities helping AI systems work with documents, images, audio and video, along with filesystem features that let agents manage files and maintain continuity across sessions.

Dropbox is also adding AI to its core product, allowing users to run tasks on their files, choose between AI models and connect content to tools including ChatGPT, Claude and Muse. The updated experience has reached more than 70,000 teams.

Founded by former Uber storage engineers, Tigris Data automatically places data closer to the users and compute that need it. Dropbox has previously acquired Reclaim.ai, Promoted.ai and Mobius Labs.