Dropbox acquires Tigris Data for $350M to bolster its AI infrastructure

Dropbox announced a $350 million acquisition of cloud technology company Tigris Data, which it says is expected to strengthen its AI infrastructure capabilities and support DBX Agent Cloud, a new storage platform for businesses and developers building AI models and agents. The deal is expected to close in the fourth quarter of 2026, and Dropbox said it has no current plans to reduce headcount as part of the acquisition. Tigris Data, founded by former Uber engineers, provides cloud storage technology that positions data closer to the users and computing resources that need it.