From TechCrunch · Lauren Forristal · · 1m 40s
Dropbox buys Tigris Data for $350M to build AI storage
Dropbox acquires cloud storage company Tigris Data for $350 million to strengthen its AI infrastructure and launch DBX Agent Cloud.
In brief
Dropbox acquires cloud storage company Tigris Data for $350 million to strengthen its AI infrastructure and launch DBX Agent Cloud. Dropbox is acquiring Tigris Data for $350 million to bolster AI infrastructure and develop DBX Agent Cloud, a storage platform for businesses building AI models. Originally reported by…
Dropbox's $350M deal for Tigris Data
Dropbox announced Thursday it is acquiring cloud technology company Tigris Data for three hundred fifty million dollars, marking what appears to be its largest acquisition to date.
Why Dropbox is making the move
The deal is expected to strengthen Dropbox's AI infrastructure capabilities and support development of DBX Agent Cloud, a new storage platform for businesses and developers building AI models and agents.
What DBX Agent Cloud will do
DBX Agent Cloud will initially offer object storage as a standalone product, allowing businesses to purchase storage independently and use it with existing tools built for Amazon S3.
AI features coming to Dropbox
Dropbox is bringing more AI capabilities to its core product. Users will ask AI to perform supported tasks using their files, choose between different AI models, and connect Dropbox content to ChatGPT, Claude and Muse.
Tigris Data's background and expertise
Tigris Data was founded by former Uber engineers who developed the ride-hailing company's storage infrastructure. The company provides cloud storage technology that positions data closer to users and computing resources, reducing access times.
Timeline and rollout plans
The transaction is expected to close in the fourth quarter of two thousand twenty-six. Dropbox says the updated experience has already reached more than seventy thousand teams, with broader availability planned for two thousand twenty-seven.
The takeaway
Dropbox is acquiring Tigris Data for $350 million to bolster AI infrastructure and develop DBX Agent Cloud, a storage platform for businesses building AI models.
