Dropbox plans $350 million Tigris Data acquisition

Dropbox announced plans to acquire cloud-storage company Tigris Data for $350 million, pairing the proposed purchase with the launch of DBX Agent Cloud, a storage service aimed at businesses and developers building artificial intelligence applications and agents. The transaction is expected to be Dropbox’s largest acquisition, according to the company. Dropbox told reporters it expects the deal to close in the fourth quarter of 2026, subject to customary conditions. The purchase remains a planned transaction; no completion was reported. DBX Agent Cloud launches with standalone object storage compatible with software built for Amazon S3. Dropbox says the service is intended to support AI workloads across multiple cloud environments. It plans to add content-processing tools and filesystem capabilities, which would allow AI systems to work with documents, images, audio and video and manage files across tasks. The acquisition would bring Tigris’s storage technology and team into Dropbox’s effort to expand beyond file storage and sharing into infrastructure for AI applications. Tigris was founded by former Uber engineers and provides object storage designed to serve data across...