Dropbox announced Thursday the $350 million acquisition of cloud technology company Tigris Data, marking the company's largest acquisition to date. The deal is expected to close in the fourth quarter of 2026 and aims to bolster Dropbox's AI infrastructure capabilities. The company stated it has no plans to reduce headcount as part of the transaction, following a 9% global workforce reduction reported by the WSJ last month.
The acquisition is intended to support the development of DBX Agent Cloud, a new storage platform designed for businesses and developers building AI models and agents. Initially, DBX Agent Cloud will offer object storage as a standalone product. This will allow businesses to purchase storage independently and use it with existing tools and applications built for Amazon S3.
Dropbox plans to expand DBX Agent Cloud with features that help AI systems work with various content types, including documents, images, audio, and video. The company also intends to add filesystem features that allow AI agents to manage files and maintain continuity across different tasks and sessions.
Beyond infrastructure, Dropbox is integrating new AI capabilities into its core product. Users will be able to ask AI to perform supported tasks using their files, select between different AI models, and connect Dropbox content to third-party tools such as ChatGPT, Claude, and Muse. The company reported that this updated experience has already reached more than 70,000 teams.
Tigris Data was founded by former Uber engineers who previously developed the ride-hailing company's storage infrastructure. The company's platform automatically positions data closer to users and computing resources to reduce access times and improve performance. Tigris Data previously raised $25 million in a Series A funding round last year.
