Dropbox to Acquire Cloud Storage Company Tigris Data for $350M, Launching AI Infrastructure Platform DBX Agent Cloud

Odaily Report: Dropbox has announced plans to acquire cloud technology company Tigris Data for $350 million, which could become its largest acquisition to date. The deal is expected to close in Q4 2026, aimed at strengthening its AI infrastructure capabilities and supporting the development of DBX Agent Cloud, a storage platform for enterprises and developers. The platform will initially offer standalone object storage services compatible with Amazon S3 tools and applications, with plans to add file system features later, enabling AI agents to manage files and maintain continuity across different tasks and sessions.

Dropbox will also upgrade the AI features of its core products, allowing users to process files through AI, select different models, and connect to third-party tools such as ChatGPT, Claude, and Muse. The company stated that there are currently no plans for layoffs related to the acquisition; it already cut approximately 9% of its global workforce last month. Tigris Data was founded by engineers who previously worked on developing Uber's storage infrastructure, and completed a $25 million Series A funding round last year. (TechCrunch)