Dropbox plans to acquire Tigris Data for $350 million.

on November 5, according to TechCrunch, Dropbox announced the acquisition of cloud storage technology company Tigris Data for $350 million to bolster its AI infrastructure. Dropbox stated that the deal is expected to close in Q4 2026, with no current plans for layoffs due to the acquisition.

The acquisition is expected to support DBX Agent Cloud, a storage platform for enterprises and developers building AI models and agents. Initially, the platform will offer a standalone object storage product compatible with existing tools and applications based on Amazon S3.