Dropbox to buy Tigris Data for $350 million to bolster AI infrastructure

Dropbox has agreed to acquire cloud technology company Tigris Data for $350 million, a deal the company says will expand its AI infrastructure capabilities. TechCrunch reported the acquisition on November 5 local time.

The purchase is described as likely the largest acquisition Dropbox has made. Dropbox said the deal will accelerate development of a new storage platform called DBX Agent Cloud, aimed at companies and developers building AI models and agents.

DBX Agent Cloud will launch with an object storage product for holding large volumes of data. It will be sold as a standalone offering, letting companies buy storage alone and use it with existing tools and apps built for Amazon S3, according to Dropbox.

Dropbox also plans to add features that let AI read and use content including documents, images, audio and video, and is preparing tools for AI agents to manage files and keep continuity across tasks and sessions.

The company will extend AI features in its existing services, allowing users to assign work to AI on their own files and choose among multiple AI models. Users will also be able to connect Dropbox content to external tools such as ChatGPT, Claude and Muse.

Earlier AI deals

Tigris Data was founded by engineers who worked on Uber's storage infrastructure and raised a $25 million Series A round the previous year. Dropbox has previously acquired AI companies including ReclaimAI, PromotedAI and Möbius Labs.