UIS have negotiated contracts with Microsoft and Dropbox for file synchronisation and cloud storage. The UIS Research Computing group are also in the process of developing a cloud service based in west Cambridge.
Dropbox for Business
The well known Dropbox personal service has a business version that the University has signed up for. In exchange for £55 per account (tied to your @cam email) you can store "unlimited" data. The drawback is that it is slow, and file sharing out of the University isn't as simple as it could be.
As part of the University's contract for Microsoft Office 365 members of staff and students registered at a Cambridge college are eligable for 1TB of cloud based storage. As with Office, not all members of the department are eligable. Files are limited to 10GB each and data transfer is slow. There is, however, no charge at the point of use.
There is no published information at this time