Dropbox Acquires Tigris Data for $350 Million to Boost AI Infrastructure

Dropbox has agreed to acquire cloud storage company Tigris Data for $350 million, its largest acquisition to date, to strengthen AI infrastructure and support the new DBX Agent Cloud platform for businesses and developers. The deal is expected to close in Q4 2026, with no planned layoffs. DBX Agent Cloud will initially offer S3-compatible object storage to eligible customers in the U.S., U.K., and Australia, with broader availability planned for 2027.