Dropbox to acquire Tigris Data for $350M to build AI storage tools

In short: Dropbox announced a $350 million deal to acquire cloud storage company Tigris Data to support a new product called DBX Agent Cloud.

What happened

Dropbox said it plans to buy Tigris Data for $350 million. Dropbox told TechCrunch the deal is expected to close in the fourth quarter of 2026. The company also said it has no current plans to cut jobs as part of the acquisition.

Dropbox is building DBX Agent Cloud, a new storage platform for businesses and developers who are building AI models and AI agents. An AI agent is a type of AI that can take actions for you, like searching files, summarizing documents, or running a multi step task.

DBX Agent Cloud will start by offering “object storage,” which is a way to store lots of data as separate items, like putting photos and files into a big warehouse where each box has its own label. Dropbox said it will work with tools that already support Amazon S3, a popular standard for cloud storage (think of it like a common plug shape that many devices can use).

Tigris Data was founded by former Uber engineers. Its technology helps companies store and access data across different regions, and it can automatically place data closer to where it is needed, which can reduce wait times.

Why it matters

More companies want AI that can work with their documents, images, audio, and video, but that only works well if the files are stored and delivered quickly and reliably. Dropbox is positioning itself not just as a place to keep files, but as part of the behind the scenes “plumbing” that helps AI tools use those files.

Source: TechCrunch AI