Dropbox acquires Tigris Data for $350M, releases new AI productivity features

Dropbox has acquired cloud storage startup Tigris Data Inc. for $350 million. The deal was announced alongside a major update to Dropbox's product lineup. Among the new features is DBX Agent Cloud, an S3-compatible object storage service tailored for AI agents. Tigris Data's technology enables AI agents to read and write data more efficiently across multiple cloud platforms.

The startup's bucket forms feature expedites data loading into AI sandboxes, reducing performance bottlenecks. Tigris Data also monitors agent access points, relocating data to nearby servers to minimize latency. Additionally, Dropbox is incorporating AI-driven productivity tools into its file sharing platform. These include an enhanced search bar to locate files by description, and the ability for the AI to summarize file changes or edit documents.

The new features are currently available in the US, UK, and Australia for Standard and Advanced subscribers, with plans to expand access globally next year.