Progress acquires Domo AI platform
Analysis based on 6 articles · First reported Jul 22, 2026 · Last updated Jul 24, 2026
The acquisition is expected to strengthen Progress's position in the AI and data platform market, potentially boosting its revenue and customer base. The deal's moderate size and asset-purchase structure may limit financial risk, while the reiteration of guidance signals confidence in near-term performance.
Progress Software (Nasdaq: PRGS) announced on July 22, 2026, that it has entered into an agreement to acquire substantially all of the assets and assume certain liabilities of Domo (Nasdaq: DOMO), including its AI and data products platform, for a cash purchase price of $400 million. The transaction is structured as an asset purchase and is expected to close within Progress's fiscal year ending November 30, 2026, subject to regulatory approvals and other customary closing conditions. The acquisition is intended to strengthen Progress's data platform offerings by integrating Domo's agentic platform for the intelligent enterprise, adding a customer base of over 2,400 businesses and a global ecosystem of cloud data warehouse technology partnerships. Progress plans to finance the transaction using a combination of cash and its existing revolving credit facility. The company reiterated its fiscal third-quarter guidance at or above the high end of previously issued guidance. Citigroup served as exclusive financial advisor to Progress, with DLA Piper LLP as legal counsel, while Jefferies LLC served as exclusive financial advisor to Domo, with Goodwin Procter LLP as legal counsel.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard