AI Business
6d ago
Dropbox acquires Tigris Data for $350 million to enhance AI infrastructure
Nov 5, 2026
AI Summary
Dropbox has announced the acquisition of Tigris Data for $350 million, aiming to improve its AI infrastructure and support the development of a new storage platform called DBX Agent Cloud. The deal, expected to close in late 2026, will not involve layoffs and follows a recent workforce reduction.
- Dropbox is acquiring Tigris Data for $350 million, marking its largest acquisition to date.
- The acquisition aims to enhance Dropbox's AI infrastructure and support the DBX Agent Cloud, a new storage platform for businesses and developers working with AI models.
- The transaction is expected to close in the fourth quarter of 2026, with no plans for workforce reductions despite a recent 9% cut in staff.
- DBX Agent Cloud will initially provide object storage as a standalone product compatible with Amazon S3.
- Dropbox plans to integrate more AI capabilities into its core product, allowing users to interact with AI for file-related tasks and connect with third-party tools.
- The updated experience has reached over 70,000 teams, with initial availability for Standard and Advanced customers in the U.S., U.K., and Australia, and broader rollout planned for 2027.
- Tigris Data, founded by former Uber engineers, specializes in cloud storage technology that optimizes data access and performance.
- This acquisition follows Dropbox's previous purchases of several AI-focused companies, including Reclaim.ai, Promoted.ai, and Mobius Labs.
dropboxacquisitionai infrastructuredata storagedevelopers