Dropbox to acquire Tigris Data for $350 million

Dropbox plans to acquire cloud technology company Tigris Data for $350 million in a deal expected to expand its artificial intelligence infrastructure. The transaction is expected to close in the fourth quarter of 2026. Dropbox said it does not currently plan to reduce its workforce because of the acquisition, although The Wall Street Journal reported that the company cut 9% of its global staff last month.

The acquisition is intended to support DBX Agent Cloud, a storage platform for businesses and developers creating AI models and agents. Its first offering will be standalone object storage that can work with tools and applications built for Amazon S3. Dropbox also plans features for handling documents, images, audio and video, along with filesystem functions allowing AI agents to manage files across tasks and sessions.

Dropbox is adding AI functions to its main product, including supported file-based tasks, model selection and connections to ChatGPT, Claude and Muse. The updated experience has reached more than 70,000 teams. Initial access is available to eligible Standard and Advanced customers in the U.S., U.K. and Australia, with wider availability planned for 2027. Tigris was founded by former Uber engineers and raised $25 million in Series A funding last year.