Dropbox plans to acquire the cloud storage company Tigris Data for 350 million USD

According to Techcrunch, Dropbox announced plans to acquire cloud technology company Tigris Data for $350 million, which could become its largest acquisition to date. The transaction is expected to be completed in the fourth quarter of 2026 and aims to enhance its AI infrastructure capabilities and support the development of the storage platform DBX Agent Cloud for enterprises and developers.

Initially, the platform will provide independent object storage services, compatible with Amazon S3 tools and applications, with plans to add file system functionality later to support AI agents in managing files and maintaining continuity across different tasks and sessions. Dropbox will also upgrade the AI capabilities of its core products, allowing users to process files through AI, select different models, and connect to third-party tools such as ChatGPT, Claude, and Muse.

The company stated that there are currently no plans for layoffs due to the acquisition; it had already reduced its global workforce by about 9% last month. Tigris Data was founded by engineers who were involved in developing Uber's storage infrastructure and completed a $25 million Series A funding round last year.