● Covered by 3 sources · 3 reportsMedium impact3 neutral
Dropbox Acquires Tigris Data for $350M to Enter AI Infrastructure Market
Key points
- Dropbox is acquiring Tigris Data for $350 million.
- This is Dropbox's largest acquisition since its founding in 2007.
- The acquisition aims to bolster Dropbox's AI infrastructure capabilities.
- Dropbox will offer S3-compatible object storage via DBX Agent Cloud.
- The transaction is expected to close in the fourth quarter of 2026.
Dropbox Enters AI Infrastructure with Tigris Acquisition
Dropbox announced its plan to acquire Tigris Data, a startup specializing in object storage for AI applications, for $350 million. This acquisition represents Dropbox's largest to date and signals its strategic expansion into the AI infrastructure market.
The deal will enable Dropbox to offer storage infrastructure to external developers and businesses, complementing its existing in-house storage system, Magic Pocket, which it developed after moving over 90% of its user data off Amazon S3 starting in 2015.
DBX Agent Cloud and S3 Compatibility
Alongside the acquisition news, Dropbox introduced DBX Agent Cloud, an upcoming offering that will initially allow developers to purchase object storage directly from Dropbox. This platform is designed to support businesses and developers building AI models and agents.
DBX Agent Cloud will provide object storage as a stand-alone product, compatible with existing tools and applications built for Amazon S3 (Simple Storage Service).
Tigris Data's Background
Founded in 2021 by former Uber engineers, Sunnyvale, California-based Tigris Data has developed a network of localized data storage centers tailored for the distributed compute needs of modern AI workloads. The company has raised approximately $31.9 million since its inception.
Tigris's Series A round in October 2025 brought in $25 million from lead investor Spark Capital, with participation from Andreessen Horowitz and Basis Set Ventures. Other early backers include General Catalyst.
Strategic Shift for Dropbox
This acquisition marks a significant shift in Dropbox's AI strategy, moving beyond its traditional file storage and sharing services to provide infrastructure for AI application development. The transaction is expected to close in the fourth quarter of 2026.
Dropbox stated it has no plans to reduce headcount as part of the acquisition, following a 9% global workforce reduction last month.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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How outlets covered it
Dropbox acquired cloud technology company Tigris Data for $350 million to strengthen its AI infrastructure capabilities and support the DBX Agent Cloud platform. This acquisition will enable Dropbox to offer object storage compatible with Amazon S3 and integrate more AI features into its core product, allowing users to interact with files using AI models.
Dropbox announced its largest acquisition to date, purchasing Tigris Data for $350 million, to expand its AI infrastructure capabilities. This acquisition will integrate Tigris's distributed data storage network, designed for AI workloads, into Dropbox's new DBX Agent Cloud offering. The move signifies Dropbox's strategic shift from file storage to providing infrastructure for AI application development.
Dropbox announced its acquisition of Tigris, a startup specializing in object storage for AI applications, for $350 million. This move marks Dropbox's entry into selling storage infrastructure to external developers and businesses, complementing its existing in-house storage system, Magic Pocket.