Keywords: Progress Software Domo deal, PRGS acquisition, Domo AI data platform, enterprise software M&A, AI tooling acquisition, DOMO asset sale

Key Highlights

  • Progress Software Corporation (NASDAQ:PRGS) completed its Acquisition of Domo, Inc.'s (NASDAQ:DOMO) AI and Data Platform Business for USD 400 million.
  • The deal was first announced in July 2026 and finalized in September 2026, adding data integration and AI tooling capabilities to Progress Software's product lineup.
  • The transaction was structured as a sale of substantially all of Domo's operating Assets and certain liabilities, rather than a full corporate merger.
  • Domo, Inc. continues to exist as a corporate entity following the close, having sold its core operating business to Progress Software.

Acquisition Finalized

Progress Software announced it had completed the acquisition of Domo's AI and Data Platform business for USD 400 million, finalizing a deal first agreed in July 2026. The transaction adds Domo's data integration, visualization, and AI tooling capabilities to Progress Software's existing portfolio of application development and data management products.

An Asset Sale, Not a Full Merger

Unlike many acquisitions structured as full corporate mergers, this deal covered substantially all of Domo's operating assets and certain liabilities rather than the entire corporate entity. As a result, Domo, Inc. continues to exist following the close, having sold its core operating business rather than being absorbed outright into Progress Software.

Strategic Fit for Progress Software

For Progress Software, the acquisition bolsters its position in the increasingly competitive data and AI tooling market, where enterprise customers are seeking integrated platforms for data preparation, visualization, and AI-driven analytics. Combining Domo's platform with Progress Software's existing infrastructure and application development tools gives the company a broader offering for enterprise data teams.

Where Things Stand

By completing the USD 400 million purchase of Domo's AI and Data Platform business, Progress Software adds meaningful data integration and AI tooling capability to its enterprise software lineup, while the unusual asset sale structure leaves Domo, Inc. intact as a corporate entity following the close.