Domo agrees to sell AI and Data Platform business to Progress for about $400 million
Domo, Inc. signed an Asset Purchase Agreement on July 22, 2026 to sell substantially all assets of its AI and Data Platform Business to Progress Software Corporation for an aggregate purchase price of approximately $400 million, subject to cash and debt adjustments. Majority stockholders signed a written consent the same day approving the deal, so no further stockholder vote is required, and the company does not intend to liquidate, instead evaluating uses of the proceeds, including acquiring assets that could use its net operating loss carryforwards.
Key points
- Purchase price is approximately $400 million, subject to a cash adjustment if acquired cash is below $25 million and an adjustment for unpaid indebtedness.
- Majority stockholders executed a written consent on July 22, 2026; closing requires the Hart-Scott Rodino waiting period to expire and an information statement to be filed with the SEC.
- Domo would owe Progress a $13.5 million termination fee in specified circumstances, including a competing proposal or lender enforcement actions.
- Domo retains its net operating loss carryforwards and adopted a Tax Benefits Preservation Plan the same day.
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 22, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.