Dropbox announced in November 2026 that it is acquiring cloud storage company Tigris Data for $350 million, in what appears to be the company’s largest acquisition to date. The deal is expected to close in the fourth quarter of 2026.
The acquisition is intended to strengthen Dropbox’s AI infrastructure and support the development of DBX Agent Cloud, a new storage platform aimed at businesses and developers building AI models and agents. DBX Agent Cloud will initially offer object storage as a standalone product, compatible with existing tools built for Amazon S3.
Tigris Data was founded by former Uber engineers who helped build the ride-hailing company’s storage infrastructure. The company provides cloud storage technology that automatically positions data closer to the users and computing resources that need it, reducing access times and improving performance. Tigris raised $25 million in a Series A funding round last year.
Dropbox said it currently has no plans to reduce headcount as part of the acquisition. The company had already cut 9% of its global workforce the previous month, according to the Wall Street Journal.
Beyond the Tigris deal, Dropbox is also expanding AI features within its core product. Users will be able to ask AI to perform tasks using their files, choose between different AI models, and connect Dropbox content to third-party tools including ChatGPT, Claude, and Muse. The updated experience has already reached more than 70,000 teams and is currently available to eligible Standard and Advanced customers in the U.S., U.K., and Australia, with broader availability planned for 2027.
Dropbox also plans to expand DBX Agent Cloud to support documents, images, audio, and video, along with filesystem features that would allow AI agents to manage files and maintain continuity across tasks and sessions. This acquisition follows previous AI-focused deals by Dropbox, including Reclaim.ai, Promoted.ai, and Mobius Labs.
Source: TechCrunch