Dropbox announced Thursday plans to acquire Tigris Data for $350 million, marking its largest acquisition since its founding in 2007. Tigris, founded by former Uber engineers, is building a network of localized data storage centers designed to meet the distributed compute needs of modern AI workloads. The Sunnyvale, California-based company has raised about $31.9 million since 2021, including a $25 million Series A in October 2025 led by Spark Capital. The deal would give Dropbox a storage platform built for developers whose applications run across multiple cloud providers.
The acquisition coincides with Dropbox's shift toward selling AI infrastructure, moving beyond file storage into the compute needs of AI applications. Publicly traded Dropbox also unveiled DBX Agent Cloud, initially offering standalone object storage for large data collections including images and video used to train AI models. Eric Webster, Dropbox's chief business officer, stated the combination of Tigris's product, experienced team, and relationships with AI developers would accelerate Dropbox's entry into AI application infrastructure.
While the Tigris deal would be Dropbox's largest ever, the company has a history of acquisitions, completing 35 known deals according to Crunchbase. Activity was heavy between 2012 and 2015, with 23 acquisitions including nine in 2014 alone. In contrast, Dropbox made only four acquisitions across 2024 and 2025, averaging two per year, roughly 65% below its earlier pace. Recent purchases suggest a focus on AI-powered productivity, including the 2024 acquisitions of Reclaim.ai and Nira, and 2025 buys of Promoted.ai and Mobius Labs. For existing customers, Dropbox is bringing AI capabilities directly to files, while DBX Agent Cloud extends storage capabilities to the infrastructure behind AI applications and agents.
Source: Crunchbase News · Summarized by HeadlinesBriefing