Dropbox announced Thursday its acquisition of cloud technology company Tigris Data for $350 million, marking what appears to be its largest acquisition to date. The deal is expected to close in the fourth quarter of 2026 and aims to strengthen Dropbox's AI infrastructure capabilities, supporting the development of DBX Agent Cloud, a new storage platform for businesses and developers building AI models and agents. The acquisition comes as Dropbox makes a significant push into AI infrastructure, with the company stating it has no current plans to reduce headcount as part of the transaction, despite cutting 9% of its global workforce last month according to WSJ.
Dropbox Confirms Q4 2026 Close and No Planned Workforce Reductions
Dropbox told TechCrunch via email that the transaction is expected to close in the fourth quarter of 2026. The company stated it currently has no plans to reduce headcount as part of the acquisition. The company already cut 9% of its global workforce last month, WSJ reported.
DBX Agent Cloud Launches with Object Storage for AI Development
DBX Agent Cloud will initially offer object storage as a standalone product, allowing businesses to purchase storage independently and use it with existing tools and applications built for Amazon S3 (Simple Storage Service), which is a cloud storage service that enables businesses to store and retrieve large volumes of data. The company plans to expand DBX Agent Cloud with additional capabilities designed to help AI systems work with different types of content, including documents, images, audio and video. Other planned additions include filesystem features that will allow AI agents to manage files and maintain continuity across tasks and sessions.
Dropbox says 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, with broader availability planned for 2027.
Dropbox Adds AI Capabilities to Core Product for File Tasks
Beyond its infrastructure ambitions, Dropbox is bringing more AI capabilities to its core product. Users will be able to ask AI to perform supported tasks using their files, choose between different AI models, and connect their Dropbox content to third-party tools, including ChatGPT, Claude and Muse.
Tigris Data Founded by Former Uber Engineers with $25M Series A
Tigris Data was founded by former Uber engineers who helped develop the ride-hailing company's storage infrastructure. The company provides cloud storage technology that helps businesses store and access data across different regions. Its platform automatically positions data closer to the users and computing resources that need it, helping reduce access times and improve performance. Tigris Data raised $25 million in a Series A funding round last year.
Dropbox Previously Acquired Reclaim.ai, Promoted.ai, and Mobius Labs
While the Tigris deal appears to be Dropbox's largest acquisition, it is not the company's first move to expand its AI capabilities through M&A. Dropbox has previously acquired several AI-focused companies, including Reclaim.ai, Promoted.ai, and Mobius Labs.
FAQ
What did Dropbox announce on Thursday?
Dropbox announced Thursday its acquisition of cloud technology company Tigris Data for $350 million, marking what appears to be its largest acquisition to date. The deal is expected to close in the fourth quarter of 2026.
What is DBX Agent Cloud?
DBX Agent Cloud is a new storage platform aimed at businesses and developers building AI models and agents. It will initially offer object storage as a standalone product, allowing businesses to purchase storage independently and use it with existing tools and applications built for Amazon S3. The company plans to expand it with additional capabilities designed to help AI systems work with different types of content, including documents, images, audio and video.
How many teams are already using Dropbox's updated AI experience?
Dropbox says 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, with broader availability planned for 2027.
