Dropbox is making a big move into AI infrastructure with the acquisition of cloud technology company Tigris Data for $350 million. This appears to be the company’s largest acquisition to date.
The deal, announced Thursday, is expected to strengthen Dropbox’s AI infrastructure capabilities and support the development of DBX Agent Cloud, a new storage platform aimed at enterprises and developers building AI models and agents.
Dropbox told TechCrunch in an email that the deal is expected to close in the fourth quarter of 2026. The company also said it has no plans to reduce its workforce as part of the acquisition at this time. The company has already cut 9% of its global workforce last month, WSJ reported.
DBX Agent Cloud will initially offer object storage as a standalone product. This allows businesses to purchase storage separately and use it with existing tools and applications built for Amazon S3 (Simple Storage Service), a cloud storage service that allows businesses to store and retrieve large amounts of data.
Beyond its infrastructure ambitions, Dropbox is bringing more AI capabilities into its core products. Users will be able to ask AI to perform supported tasks using their files, choose from a variety of AI models, and connect Dropbox content to third-party tools like ChatGPT, Claude, and Muse.
The company also plans to expand DBX Agent Cloud with additional features designed to help AI systems process different types of content, including documents, images, audio, and video. Other planned additions include file system functionality that will allow AI agents to manage files and maintain continuity across tasks and sessions.
Dropbox says its latest experience is already available to more than 70,000 teams. The initial rollout is available to eligible Standard and Advanced customers in the US, UK, and Australia, with broader availability expected in 2027.
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 allows businesses to store and access data across different geographies. Its platform automatically places 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.
The deal with Tigris appears to be Dropbox’s biggest acquisition, but it’s 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.
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