Dropbox plans to spend approximately $350 million in cash to acquire Tigris Data, a young cloud storage company based in Sunnyvale, California. Founded in November 2021 by former Uber engineers, the startup operates an S3-compatible object storage platform that allows customers to manage data across multiple cloud environments without exit fees. The transaction, announced on November 5, 2026, is expected to close in the fourth quarter of this year, subject to customary conditions, and is likely to be the largest acquisition in Dropbox’s history. The purchase will support the launch of DBX Agent Cloud, a service for businesses and developers building AI models and agents, alongside new AI-powered features for more than 70,000 teams in the United States, the United Kingdom, and Australia.
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