Progress Software to acquire Domo's AI and data platform business for $400 million
On July 22, 2026, Progress Software agreed to acquire substantially all assets of Domo's AI and Data Platform Business for a purchase price of about $400 million, paid with cash and its existing revolving credit facility. The same day, Progress said its fiscal third-quarter revenue and non-GAAP earnings per share are expected to be within or above the high end of its June 30, 2026 guidance. Closing requires regulatory clearance and a Domo stockholder information statement, and the deal has no financing condition.
Key points
- Purchase price of about $400 million, subject to adjustments for cash acquired at closing and outstanding indebtedness
- Progress expects to close within its fiscal year ending November 30, 2026, subject to the Hart-Scott-Rodino waiting period and other customary conditions
- Domo's business has about 2,400 customers; Domo's trailing twelve-month revenue was about $318 million as of April 2026, per the investor presentation
- Progress reiterated Q3 guidance for revenue and non-GAAP EPS within or above the high end of the June 30, 2026 range; full results are due on a September 30, 2026 call
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:55 AM ET, from the text of the filing and its press-release exhibits 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 (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.