Dropbox buys Tigris Data for $350 million in its largest deal yet

Dropbox has agreed to acquire cloud storage company Tigris Data for $350 million, the file-sharing company’s largest acquisition to date. The deal, announced on November 5, is meant to strengthen Dropbox’s push into AI infrastructure, the storage and computing systems that AI models and software agents depend on to run. Dropbox told TechCrunch the transaction is expected to close in the fourth quarter of 2026.

Tigris Data builds cloud storage technology that automatically positions data closer to the users and computers that need it, which cuts delays and improves speed. The company was founded by engineers who previously helped build Uber’s own storage infrastructure. It raised $25 million in a Series A funding round last year.

The acquisition is meant to support DBX Agent Cloud, a new Dropbox storage platform aimed at businesses and developers building AI models and agents, software that carries out multi-step tasks with little human input. The platform’s first product will be object storage, a method of storing files as self-contained units, sold as a stand-alone service. Dropbox says it will work with existing tools built for Amazon S3, a widely used cloud storage service from Amazon. The company plans to later add support for documents, images, audio and video, along with filesystem features that let AI agents manage files and keep track of their progress across tasks and sessions.

Dropbox said it currently has no plans to cut jobs as a result of the acquisition. The statement comes a month after the company cut 9% of its global workforce, according to a report from the Wall Street Journal.

More AI features for core product

Beyond the infrastructure push, Dropbox is adding AI capabilities to its main product. Users will be able to ask AI to perform supported tasks using their files, choose between different AI models, and connect their Dropbox content to outside tools, including ChatGPT, Claude and Muse. Dropbox says the updated experience has already reached more than 70,000 teams. The initial rollout is available to eligible Standard and Advanced customers in the United States, the United Kingdom and Australia, with wider availability planned for 2027.

The Tigris purchase is not Dropbox’s first move into AI through acquisitions, though it appears to be the largest one yet. The company has previously acquired Reclaim.ai, Promoted.ai and Mobius Labs as part of its broader push to add AI capabilities across its products.