Dropbox has finalized a definitive agreement to acquire all outstanding shares of Tigris Data Inc., with an aggregate cash consideration of approximately $350 million, subject to customary purchase-price adjustments.
Tigris Data is developing a globally distributed object storage platform designed to handle AI workloads at scale.
With this acquisition, Dropbox aims to accelerate its entry into the AI infrastructure market by addressing the needs of application developers and AI agents, not solely its end users. The deal accompanies the launch of DBX Agent Cloud, a standalone, S3-compatible object storage service that companies can buy separately. It is designed to work with the tools and applications already built for Amazon S3.
The initial rollout will cover the United States, the United Kingdom, and Australia, in English. Dropbox says broader availability is planned for 2027, without providing a precise timeline or pricing for DBX Agent Cloud.
