Dropbox said Thursday it plans to acquire Tigris Data, a cloud storage company, for $350 million, according to TechCrunch¹.

TechCrunch reported that the deal is expected to strengthen Dropbox's AI infrastructure and support DBX Agent Cloud, a storage platform aimed at businesses and developers building AI models and agents¹. Dropbox told TechCrunch by email that the transaction is expected to close in the fourth quarter of 2026¹.

Techmeme, citing Mary Ann Azevedo of Crunchbase News, likewise said Dropbox plans to acquire Tigris for $350 million and that the company told Crunchbase the purchase would be its largest to date². TechCrunch also said the Tigris deal appears to be Dropbox's largest acquisition¹.

Techmeme's Crunchbase summary said Tigris had raised about $31.9 million from Spark Capital, Andreessen Horowitz and other investors². That fundraising history was not in the TechCrunch article reviewed^1,2.

Dropbox told TechCrunch it currently has no plans to reduce headcount as part of the acquisition¹. TechCrunch noted the company already cut 9% of its global workforce last month, citing the Wall Street Journal¹.

TechCrunch said the Tigris purchase is not Dropbox's first move to expand AI capabilities through acquisitions¹. Neither item reviewed named other terms of the deal, such as cash versus stock, or said whether regulators must still approve the close^1,2.