Dropbox is acquiring cloud technology company Tigris Data for $350 million, further strengthening its investment in AI's infrastructure construction. This deal is set to become the largest acquisition in the company's history so far.
On Thursday, Dropbox announced that this transaction is expected to enhance its AI infrastructure capabilities and support the development of DBX Agent Cloud. DBX Agent Cloud is a new storage platform designed for enterprises and developers to build AI models and agents.
Dropbox informed TechCrunch via email that this transaction is expected to be completed in the fourth quarter of 2026. The company also stated that there are no plans to lay off employees as a result of this acquisition at present. Last month, the company already laid off 9% of its global workforce, which was reported by WSJ.
DBX Agent Cloud will initially be provided as a standalone product for object storage, allowing enterprises to purchase storage separately and use it with existing tools and applications that are compatible with Amazon S3 ( Simple Storage Service ). Amazon S3 is a cloud storage service that can help enterprises store and retrieve large amounts of data.
In addition to the infrastructure layout, Dropbox is also adding more AI features to its core products. Users will be able to allow AI to use their own files to perform supported tasks, choose between different AI models, and connect Dropbox content to third-party tools, including ChatGPT, Claude, and Muse.
The company also plans to add more features to DBX Agent Cloud to help the AI system process different types of content, including documents, images, audio, and video. Other planned new features include file system capabilities, enabling the AI intelligent entity to manage files and maintain continuity between different tasks and sessions.
Dropbox indicates that the updated experience has been rolled out to over 70,000 teams. The first batch is available to eligible Standard and Advanced customers in the United States, the United Kingdom, and Australia, with plans to expand the availability in 2027.
Tigris Data was founded by former Uber engineers who helped develop the storage infrastructure for this ride-hailing company. The company provides cloud storage technology to assist enterprises in storing and accessing data in different regions. Its platform automatically deploys data to locations closer to the users and computing resources in need, thereby reducing access times and enhancing performance.
Tigris Data raised $25 million in its Series A financing last year.
Although this Tigris transaction seems to become the largest acquisition for Dropbox, this is not the first time the company has expanded its AI capabilities through mergers and acquisitions. Dropbox has previously acquired several AI related companies, including Reclaim.ai, Promoted.ai, and Mobius Labs.
