Dropbox acquired cloud storage company Tigris Data for $350 million, marking what appears to be its largest acquisition to date. The deal, announced Thursday, is expected to close in the fourth quarter of 2026.
The acquisition strengthens Dropbox's AI infrastructure and supports DBX Agent Cloud, a new storage platform for businesses and developers building AI models and agents. DBX Agent Cloud will initially offer object storage as a standalone product compatible with Amazon S3, allowing businesses to purchase storage independently and use it with existing tools.
Dropbox said it currently has no plans to reduce headcount as part of the acquisition. The company cut 9% of its global workforce last month, according to the Wall Street Journal.
Tigris Data was founded by former Uber engineers who developed the ride-hailing company's storage infrastructure. The platform automatically positions data closer to users and computing resources that need it, reducing access times and improving performance. Tigris Data raised $25 million in a Series A funding round last year.
Beyond the infrastructure acquisition, Dropbox is expanding AI capabilities in its core product. Users will be able to ask AI to perform supported tasks using their files, choose between different AI models, and connect Dropbox content to third-party tools including ChatGPT, Claude, and Muse. The company plans to expand DBX Agent Cloud with additional capabilities for documents, images, audio, and video, along with filesystem features allowing AI agents to manage files and maintain continuity across tasks and sessions.
The updated experience has already reached more than 70,000 teams, with initial rollout available to eligible Standard and Advanced customers in the U.S., U.K., and Australia. Broader availability is planned for 2027.
Dropbox has previously acquired several AI-focused companies, including Reclaim.ai, Promoted.ai, and Mobius Labs.