Mergers & Acquisitions ·
Dropbox agrees to acquire Tigris Data for $350M in cash to expand AI infrastructure
DBXDropbox, Inc.
Dropbox entered into a definitive agreement to acquire all outstanding equity of Tigris Data Inc. for approximately $350 million in cash, subject to customary purchase price adjustments and closing conditions. The transaction is expected to close in the fourth quarter of 2026. Concurrently, Dropbox unveiled DBX Agent Cloud, a new S3-compatible object storage offering designed for AI workloads, alongside enhanced AI capabilities integrated into its core platform that allow users to interact with files using models like ChatGPT and Claude. These moves signal a strategic expansion beyond traditional file sharing into the AI infrastructure market. Dropbox operates in the cloud storage and collaboration software industry.