Dropbox to Buy Tigris Data for $350M

Posted on in IPOs & Deals Posted by

Made available with help from backers

Dropbox has agreed to buy Tigris Data, a cloud storage technology company, for $350 million. It appears to be the largest acquisition in Dropbox's history.

Not the first AI deal

The purchase follows earlier AI acquisitions. Dropbox has already bought Reclaim.ai, Promoted.ai and Mobius Labs.

It is also adding AI to what customers already use. Users will be able to hand supported jobs on their files to AI, and switch between AI models. They can connect their Dropbox content to ChatGPT, Claude and Muse.

Dropbox says the updated experience has reached more than 70,000 teams. The first rollout covers eligible Standard and Advanced customers in the U.S., U.K. and Australia. Broader availability is planned for 2027.

DBX Agent Cloud

The deal supports DBX Agent Cloud, a new storage platform for businesses and developers who build AI models and agents. It will begin with object storage sold as a stand-alone product.

Businesses can buy that storage on its own and run it with the tools they already use that work with Amazon S3, a widely used cloud storage service.

More is planned. Dropbox wants AI systems to work with documents, images, audio and video. It also plans filesystem features so AI agents can manage files and keep continuity across tasks and sessions.

Who Tigris is

Tigris was founded by former Uber engineers who worked on the ride-hailing company's storage infrastructure. Its platform moves data near the users and compute that rely on it. That helps reduce access times and improve performance.

The company raised a $25 million Series A round last year.

Its storage lets a business work with the same data from more than one region.

Timing and jobs

The deal, announced Thursday, is aimed at deepening Dropbox's AI infrastructure. Dropbox told TechCrunch it should close in the fourth quarter of 2026.

The company currently has no plans to cut headcount as part of the acquisition. The WSJ reported that Dropbox already cut 9% of its global workforce last month.

Source: TechCrunch