Dropbox plans to acquire Tigris Data for $350 million, giving the file-storage company its biggest acquisition since it was founded in 2007. The deal, announced Thursday, is expected to close in the fourth quarter of 2026 and strengthen Dropbox’s push into infrastructure for artificial intelligence applications.
The purchase comes as Dropbox moves beyond storing and sharing files. The publicly traded company is building DBX Agent Cloud, a platform designed to give businesses and developers storage for the data that AI applications need to use, process, and manage.
Why Tigris fits Dropbox’s AI plans
Tigris is a Sunnyvale, California-based cloud technology company founded by former Uber engineers who helped develop Uber’s storage infrastructure. The company is building a network of localized data storage centers, with a platform that helps businesses store and access data across different regions.
Tigris says its network can meet the distributed compute needs of modern AI workloads. Its platform positions data closer to the users and computing resources that need it, which helps reduce access times and improve performance. That design gives Dropbox a storage platform built for developers whose applications run across multiple cloud providers.
Tigris has raised about $31.9 million since its founding in 2021. Its October 2025 Series A raised $25 million from lead investor Spark Capital, with participation from Andreessen Horowitz and Basis Set Ventures. General Catalyst was among its earlier backers.
Eric Webster, Dropbox’s chief business officer, said Tigris brings “a product already running in production, an experienced team, and established relationships with AI developers.” He added that “that combination would accelerate our entry into infrastructure for AI applications through DBX Agent Cloud.”
DBX Agent Cloud starts with storage
DBX Agent Cloud will initially offer standalone object storage. Businesses will be able to purchase storage independently and use it with existing tools and applications built for Amazon S3, or Simple Storage Service, the cloud storage service used to store and retrieve large volumes of data.
Dropbox describes the product as a way to store and retrieve large collections of data, including images, video, and the files used to train and run AI models. That focus puts storage at the center of the company’s AI strategy, rather than treating it as only a place for people to keep documents.
The updated Dropbox experience also lets users ask AI to perform supported tasks using their files and choose between different AI models. Users can connect their Dropbox content to third-party tools, including ChatGPT, Claude, and Muse.
Dropbox plans to expand DBX Agent Cloud with capabilities for different types of content, including documents, images, audio, and video. Future additions also include filesystem features that will let AI agents manage files and maintain continuity across tasks and sessions.
The updated experience has already reached more than 70,000 teams. The initial rollout is available to eligible Standard and Advanced customers in the U.S., U.K., and Australia, while broader availability is planned for 2027.
A large acquisition after a slower dealmaking period
Dropbox has made 35 known acquisitions. From 2012 through 2015, the company completed 23 publicly reported acquisitions, including nine in 2014 alone. Across 2024 and 2025, it made four acquisitions, averaging two per year, about 65% below its earlier pace.
The company’s recent purchases point toward AI-powered productivity, search, and security. Dropbox acquired scheduling startup Reclaim.ai and document security company Nira in 2024, then followed with Promoted.ai and Mobius Labs in 2025.
Dropbox has also used acquisitions to build its document and business tools. It bought e-signature company HelloSign in 2019 for $230 million, document-sharing platform DocSend in 2021 for $165 million, and business forms provider FormSwift in 2022 for $95 million.
The Tigris deal would stand apart in size and technical focus. While it would be Dropbox’s largest acquisition, it would not be the company’s first move to expand its AI capabilities through acquisitions. Reclaim.ai, Promoted.ai, and Mobius Labs were also AI-focused purchases.
What the deal means for Dropbox
Dropbox describes the acquisition as part of “a significant shift” in its AI strategy. Instead of focusing only on the applications people use to organize and share files, the company is expanding toward the infrastructure companies use to build AI applications.
That shift gives Dropbox two connected paths. Its familiar file platform holds valuable business content, while DBX Agent Cloud is designed to provide storage for developers building AI models and agents. Tigris adds cloud storage technology for data that must move across regions, users, and computing resources.
Dropbox currently has no plans to reduce headcount as part of the acquisition. The company did cut 9% of its global workforce last month, making the statement about the Tigris deal important as Dropbox changes direction and adds a new infrastructure business.
If the transaction closes in the fourth quarter of 2026, Dropbox will take control of a Tigris platform built around localized storage and distributed AI workloads. The $350 million purchase shows how central storage has become to the company’s plan for AI agents, model data, and the tools built around them.
Based on
- Dropbox Plans $350M AI Infrastructure Deal With Tigris Buy, Its Biggest Acquisition Yet — news.crunchbase.com
- Dropbox acquires Tigris Data for $350M to bolster its AI infrastructure | TechCrunch — techcrunch.com
- VentureBeat | AI News & Analysis for Enterprise Leaders — venturebeat.com
- NetApp Completes Acquisition of PEAK:AIO to Accelerate Zettabyte-scale AI Deployments | AFP.com — origin-zh9p7m-www.afp.com
- Redis Expands Redis Iris to Give AI Agents the Memory, Context, and Messaging They Need to get to Production — nationalpost.com
