Dropbox has agreed to buy Tigris Data for $350 million. This deal represents the company’s largest acquisition to date.
The announcement came on Thursday. The move is intended to upgrade Dropbox’s internal AI systems and support the launch of DBX Agent Cloud. This new platform targets businesses and developers who need to build AI models and agents.
Dropbox told TechCrunch the transaction should close in the fourth quarter of 2026. The company stated it has no current plans to cut staff as part of the deal. Reports from the WSJ indicate Dropbox already reduced its global workforce by 9% last month.
DBX Agent Cloud will initially sell object storage as a standalone product. Businesses can buy this storage and use it with existing tools designed for Amazon S3. Amazon S3 is a cloud service that lets companies store and retrieve large volumes of data.
Dropbox is also adding AI features to its main product. Users can now ask the AI to perform supported tasks using their files. They can choose between different AI models and connect their Dropbox content to third-party tools like ChatGPT, Claude and Muse.
The company plans to expand DBX Agent Cloud with features for handling documents, images, audio and video. Future updates will include filesystem features that allow AI agents to manage files and maintain continuity across tasks and sessions.
Dropbox says the updated experience is now available to more than 70,000 teams. The initial rollout is open to eligible Standard and Advanced customers in the U.S., U.K. and Australia. Broader availability is planned for 2027.
Tigris Data was founded by former Uber engineers. These engineers helped build the ride-hailing company’s storage infrastructure. The firm provides cloud storage technology that lets businesses store and access data across different regions. Its platform automatically positions data closer to users and computing resources. This approach reduces access times and improves performance.
Tigris Data raised $25 million in a Series A funding round last year.
While the Tigris deal is Dropbox’s biggest acquisition, it is not the first time the company has expanded its AI capabilities through M&A. Previous purchases include Reclaim.ai, Promoted.ai and Mobius Labs.
What it means
For users, the immediate change is the ability to select specific AI models and connect their files to external tools like ChatGPT. Businesses gain a new storage option compatible with Amazon S3 standards, while the company builds out a dedicated platform for AI agents to manage documents and media.
