Dropbox to Acquire Tigris Data for $350M; Launches DBX Agent Cloud

Dropbox announced plans to acquire Tigris Data Inc. for approximately $350 million in cash, subject to customary adjustments. Tigris is a globally distributed object storage platform built for AI workloads. The acquisition is expected to close in the fourth quarter of 2026. In conjunction with the acquisition, Dropbox is launching DBX Agent Cloud, a new storage and data infrastructure offering that will initially provide standalone object storage. These moves are part of Dropbox's strategy to expand into AI infrastructure for companies and developers, and new AI-powered capabilities have already been rolled out to over 70,000 teams.