Dropbox Acquires Tigris Data for $350M to Expand AI Storage Infrastructure
Dropbox announced a $350 million acquisition of cloud storage company Tigris Data, its largest acquisition to date, aimed at strengthening AI infrastructure and supporting a new storage platform called DBX Agent Cloud. The deal, expected to close in Q4 2026, comes a month after Dropbox cut 9% of its global workforce, though the company states no headcount reductions are planned as part of this acquisition. Tigris Data, founded by former Uber engineers, provides cloud storage technology with S3-compatible object storage and geographically optimized data placement. The acquisition follows Dropbox's pattern of AI-focused M&A, including prior purchases of Reclaim.ai, Promoted.ai, and Mobius Labs, as the company integrates more AI capabilities into its core product and expands enterprise AI storage offerings.
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Dropbox Acquires Tigris Data for $350M to Expand AI Storage Infrastructure
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Dropbox announced a $350 million acquisition of cloud storage company Tigris Data, its largest acquisition to date, aimed at strengthening AI infrastructure and supporting a new storage platform called DBX Agent Cloud. The deal, expected to close in Q4 2026, comes a month after Dropbox cut 9% of its global workforce, though the company states no headcount reductions are planned as part of this acquisition. Tigris Data, founded by former Uber engineers, provides cloud storage technology with S3-compatible object storage and geographically optimized data placement. The acquisition follows Dropbox's pattern of AI-focused M&A, including prior purchases of Reclaim.ai, Promoted.ai, and Mobius Labs, as the company integrates more AI capabilities into its core product and expands enterprise AI storage offerings.