THE ESSENTIALS IN 30 SECONDS

  • Dropbox will pay about $350 million in cash for Tigris Data, with closing expected in the fourth quarter of 2026.
  • Tigris, founded in 2021 by former Uber storage engineers, runs a globally distributed object storage platform and raised a $25 million Series A in 2025.
  • The new DBX Agent Cloud starts with standalone S3-compatible object storage, with filesystem and content-processing features planned later.

Dropbox said on November 5, in its third-quarter 2026 results, that it has agreed to acquire Tigris Data, a company that runs a globally distributed object storage platform. The price is approximately $350 million in cash, subject to customary purchase price adjustments, and Dropbox expects the deal to close in the fourth quarter of 2026. The company told Crunchbase News it will be its largest acquisition since it was founded in 2007, ahead of earlier deals such as HelloSign ($230 million in 2019) and DocSend ($165 million in 2021).

What Tigris does

Tigris, based in Sunnyvale, California, was started in 2021 by engineers who had worked on Uber's storage infrastructure. Its service places data in regional locations close to the users and compute that need it, which the company says shortens access times for distributed AI workloads. According to Crunchbase News, it raised a $25 million Series A in October 2025, led by Spark Capital with Andreessen Horowitz and Basis Set Ventures, and about $31.9 million in total. Dropbox told TechCrunch it has no current plans to cut headcount as part of the deal.

DBX Agent Cloud

Alongside the acquisition, Dropbox introduced DBX Agent Cloud, a new infrastructure business for companies and developers building AI models, applications and agents. It begins with standalone object storage compatible with Amazon S3 tools and applications. Dropbox plans to add support for documents, images, audio and video over time, as well as filesystem features meant to let agents manage files and keep continuity across tasks and sessions. Chief business officer Eric Webster told Crunchbase News the product opens a new developer and infrastructure market for the company.

What it signals

The move takes Dropbox beyond file storage and sharing toward selling infrastructure to developers, a shift Crunchbase News describes as significant for the company's AI strategy. Its other AI track continues inside its core product: TechCrunch reports that users can now ask AI to act on their files, pick among models and connect Dropbox content to tools such as ChatGPT and Claude, with an initial rollout in the US, UK and Australia and wider availability planned for 2027. Dropbox has not shared pricing for DBX Agent Cloud, a general availability date, or Tigris's revenue and customer numbers, so it is too early to judge how quickly the new business can grow.