Progress Software to acquire Domo’s AI and data platform business for $400 million
Progress Software has agreed to acquire substantially all of the assets and assume certain liabilities of Domo’s AI and data platform business in a $400 million cash transaction, expanding its enterprise AI and data management portfolio.
The acquisition will add Domo’s AI and data platform, along with a customer base of more than 2,400 businesses, to Progress’ portfolio. The company said the deal is intended to strengthen its data platform offerings by providing customers with tools for data integration, analytics, governance and AI deployment.
Progress said the acquisition aligns with its strategy of expanding its AI infrastructure business through acquisitions that complement its existing software portfolio. The transaction is structured as an asset purchase and is expected to close before the end of Progress’ fiscal year on November 30, 2026, subject to regulatory approvals and customary closing conditions.
The company plans to finance the acquisition through a combination of cash...
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