Dropbox said Nov. 5 it agreed to buy Tigris Data for approximately $350 million in cash, committing capital to a storage business aimed at companies building AI applications rather than only customers sharing files.
The agreement, signed Nov. 3, covers all outstanding Tigris equity, according to Dropbox’s SEC filing. The price is subject to customary adjustments. Dropbox expects the transaction to close in the fourth quarter of 2026, subject to closing conditions; it has not reported a completed acquisition.
A separate infrastructure offering
Alongside the deal, Dropbox announced DBX Agent Cloud. The company describes its initial offering as object storage compatible with Amazon S3 tools and supported applications, purchasable separately from its core file-sharing product.
Dropbox says it plans to add filesystem and content-processing capabilities. Those are plans, not established delivery milestones. The announcement does not specify a general-availability date for Agent Cloud.
Chief Business Officer Eric Webster told Crunchbase News that Tigris would bring an existing production service, an experienced team and developer relationships to support the expansion.
Two different customer measures
Dropbox also said its new AI experience for existing file-sharing customers had been made available to more than 70,000 teams. That figure concerns the separate Dropbox product rollout, not Agent Cloud customer adoption.
The planned purchase broadens Dropbox’s intended customer base to infrastructure buyers and developers. Its filing cautions that integration difficulties, staff retention and failure to realize expected benefits could affect the transaction’s outcome.