Progress Software to acquire Domo's AI and data platform business for $400M cash

Filed July 22, 2026 · Period ending July 22, 2026 · ~2 min read

Key Changes

• high

  Progress entered into an agreement to acquire substantially all assets of Domo's AI and data platform business for $400M cash, funded with cash on hand and existing revolver borrowings. The asset purchase excludes Domo's NOL carryforwards; Domo Inc. remains a public company post-close.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  The acquisition adds ~2,400 customers generating ~$318M in trailing twelve-month revenue, with 86% of ARR on consumption-based contracts and >100% net revenue retention on consumption-native contracts. Closing expected in fiscal Q4 2026.

  Exhibit 99.2 view on EDGAR →
• medium

  Progress secured a voting and support agreement with Domo stockholders holding sufficient voting power to approve the transaction, eliminating the need for further stockholder approval. HSR antitrust clearance remains required; no financing condition.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →