Dropbox is acquiring Tigris Data, a cloud storage company founded by former Uber engineers who built that company’s storage infrastructure, for 350 million dollars. TechCrunch reported the price on November 5 and described it as what appears to be Dropbox’s largest acquisition to date. Dropbox said the transaction is expected to close in the fourth quarter of 2026 and that it has no plans to reduce headcount as part of the deal, a month after cutting about 9 percent of its global workforce.
The deal underpins a new product, DBX Agent Cloud, a storage platform aimed at businesses and developers building AI models and agents. It will initially sell object storage as a standalone product, purchasable independently of the core Dropbox service and compatible with tools built for Amazon S3. Planned additions include filesystem features that let AI agents manage files and keep continuity across tasks and sessions, and support for documents, images, audio and video.
Tigris’s technology automatically positions data close to the users and compute that need it, which is the property AI training and agent workloads pay for. The company raised 25 million dollars in a Series A round last year, so the exit price is roughly fourteen times its last disclosed raise.
Dropbox has been buying its way into AI for two years, acquiring Reclaim.ai, Promoted.ai and Mobius Labs before this deal. The updated Dropbox experience has reached more than 70,000 teams, the company said, with the initial rollout open to eligible Standard and Advanced customers in the United States, the United Kingdom and Australia, and broader availability planned for 2027.