The key facts

  • Dropbox is acquiring Tigris Data for $350 million — reportedly the company's largest deal
  • DBX Agent Cloud is launching: starting with object storage compatible with Amazon S3
  • The updated AI experience is already available to more than 70,000 teams in the US, UK and Australia

Dropbox's biggest deal and a new platform for AI agents

Dropbox has announced the acquisition of the cloud technology company Tigris Data for $350 million — which, according to TechCrunch, is the largest acquisition in the company's history. The deal is intended to strengthen Dropbox's AI infrastructure and support the development of DBX Agent Cloud — a new data storage platform for businesses and developers building AI models and agents. The company said the transaction is expected to close in the fourth quarter of 2026 and stated that it does not plan to cut staff in connection with the deal — this comes after, according to WSJ, Dropbox already cut 9% of its global workforce last month.

What Tigris Data is

Tigris Data was founded by former Uber engineers who worked on the ride-hailing service's data storage infrastructure. The company offers a cloud technology that helps businesses store data across multiple regions and automatically places it closer to users and compute resources, reducing access time. Last year the startup raised $25 million in a Series A round.

How DBX Agent Cloud will work

At launch, DBX Agent Cloud will offer object storage as a standalone product: companies will be able to purchase it independently and use it with existing tools and applications built for Amazon S3. Going forward, Dropbox plans to expand the platform with capabilities for AI systems to work with different types of content — documents, images, audio and video — as well as file features that allow AI agents to manage files and retain context between tasks and sessions.

AI in the core product and deal context

Beyond infrastructure, Dropbox is adding AI features to its core product: users will be able to assign AI tasks involving their files, choose between different models, and connect Dropbox content to third-party tools, including ChatGPT, Claude and Muse. According to the company, the updated experience is already available to more than 70,000 teams; the initial rollout covers eligible Standard and Advanced plan customers in the US, UK and Australia, with broader availability planned for 2027. The Tigris deal is not Dropbox's first AI-related acquisition: the company previously acquired Reclaim.ai, Promoted.ai and Mobius Labs.