Dropbox to acquire Tigris Data for $350 million
Cloud storage giant buys AI infrastructure startup for $350 million to expand services.
The logo of the file hosting service Dropbox is shown on the display of a smartphone (Thomas Trutschel/Photothek/Getty Images)
Dropbox, Inc. announced on Nov. 5, 2026, that it has entered into a definitive agreement to acquire Tigris Data Inc. for approximately $350 million in cash. The transaction, which is the largest acquisition in Dropbox's history since its 2007 founding, is expected to close in the fourth quarter of 2026, pending customary closing conditions.
The acquisition is part of a strategic shift for Dropbox as it moves to expand its services beyond traditional file storage. By integrating Tigris Data, the company aims to provide scalable, S3-compatible object storage designed specifically for developers and businesses that are building AI models and agents.
Alongside the acquisition, Dropbox introduced a new platform called DBX Agent Cloud. According to Dropbox Chief Business Officer Eric Webster, the integration of Tigris Data’s existing production technology and its experienced team will accelerate the company's entry into the AI infrastructure market.
Dropbox Co-CEO Ashraf Alkarmi stated that the move is intended to bring AI capabilities to the work already stored within the Dropbox ecosystem. Tigris Data, founded in 2021 by former Uber engineers, previously raised $31.9 million in funding, including a $25 million Series A round in October 2025.