Dropbox acquires Tigris Data for $350M to bolster its AI infrastructure
The deal is expected to support the development of DBX Agent Cloud, a new storage platform aimed at developers building AI models and agents.
TL;DR
- Dropbox is acquiring Tigris Data for $350 million, its largest acquisition to date.
- The acquisition aims to bolster Dropbox's AI infrastructure and support the development of DBX Agent Cloud.
- DBX Agent Cloud will initially offer object storage and be compatible with Amazon S3.
- Dropbox is integrating more AI capabilities into its core product, allowing users to perform tasks with files via AI.
- Tigris Data provides cloud storage technology that optimizes data access and performance.
- Dropbox has previously acquired other AI-focused companies like Reclaim.ai, Promoted.ai, and Mobius Labs.