Dropbox to buy Tigris Data for ~$350M cash, launches DBX Agent Cloud AI storage

DROPBOX, INC.

Definitive agreement signed Nov 3, 2026 to acquire all outstanding equity of Tigris Data Inc. for ~$350M cash, subject to customary purchase price adjustments.
Closing expected in Q4 2026 subject to customary conditions; Tigris runs a globally distributed object storage platform built for AI workloads.
Dropbox unveiled DBX Agent Cloud, starting with standalone S3-compatible object storage sold independently; filesystem and content-processing features planned next.
New AI capabilities already rolled out to more than 70,000 teams; initial rollout for eligible Standard and Advanced teams in US, UK and Australia, English only, broader in 2027.
Customers can switch supported AI models mid-session and work on Dropbox files inside ChatGPT, Claude and Muse; co-CEO Ashraf Alkarmi quoted.

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