Dropbox to acquire Tigris Data for $350 million

Dropbox said the purchase will support DBX Agent Cloud, a storage platform for businesses and developers building AI models and agents. The company told TechCrunch by email that it has no current plans to cut jobs as part of the acquisition. The Wall Street Journal reported that Dropbox cut 9% of its global workforce last month.

DBX Agent Cloud is set to launch with object storage as a standalone product. Customers will be able to buy storage separately and use it with existing tools and applications built for Amazon S3, Amazon’s service for storing and retrieving large volumes of data. Dropbox plans to add features for AI systems handling documents, images, audio and video, as well as filesystem tools that let AI agents manage files and retain continuity across tasks and sessions.

Dropbox is also adding AI functions to its core product. Users will be able to ask AI to carry out supported tasks using their files, select among different AI models and connect Dropbox content to third-party services, including ChatGPT, Claude and Muse. The updated experience has reached more than 70,000 teams, the company said. Its initial rollout is for eligible Standard and Advanced customers in the U.S., U.K. and Australia; broader availability is planned for 2027.

Founded by former Uber engineers who helped build the ride-hailing company’s storage infrastructure, Tigris provides cloud technology that stores and serves data across regions. Its platform automatically places data closer to the users and computing resources that need it, aiming to reduce access times and improve performance. Tigris raised $25 million in a Series A round last year.

Dropbox has previously bought AI-focused companies Reclaim.ai, Promoted.ai and Mobius Labs.