Dropbox to Acquire Tigris Data for $350 Million
Dropbox is acquiring storage startup Tigris Data for $350 million, marking its largest acquisition to date as it expands into AI infrastructure.
Dropbox has announced plans to purchase Tigris Data for $350 million. The transaction represents the company's largest acquisition since its founding in 2007. Based in Sunnyvale, California, Tigris provides localized data storage infrastructure designed for the high-volume compute requirements of AI workloads.
The acquisition serves as a move to transition Dropbox beyond file-sharing services and into the AI infrastructure market. Alongside the announcement, the company introduced DBX Agent Cloud, a platform enabling developers to store and retrieve data sets used for training and executing AI models. This platform targets a developer audience distinct from the company's traditional consumer and enterprise user base.
Dropbox Chief Business Officer Eric Webster stated that the acquisition provides a production-ready product and an experienced team, which will accelerate the deployment of the DBX Agent Cloud. While Dropbox has slowed its overall acquisition pace in recent years, the firm has prioritized AI-powered productivity, search, and security tools for its latest integrations.
The strategic shift incorporates two distinct approaches: integrating AI capabilities into existing file-sharing services to improve user retention, and providing backend storage infrastructure for AI agents via DBX Agent Cloud. By expanding into developer-focused infrastructure, Dropbox aims to capture revenue streams within the growing AI development sector.