Progress Software Acquires Domo’s AI and Data Platform for $400M — Progress Software Corporation

Event summary

Progress Software will acquire Domo’s AI and data platform business for $400 million in cash.
The deal includes over 2,400 businesses as part of Domo’s customer base and a global ecosystem of cloud data warehouse partnerships.
The transaction is expected to close by November 30, 2026, subject to regulatory approvals.
Progress anticipates revenue and non-GAAP earnings per share for Q3 2026 to be within or above previously issued guidance.

The big picture

Progress Software’s acquisition of Domo’s AI and data platform business aligns with its strategy to strengthen its data platform offerings, providing organizations with secure, governed, and AI-ready intelligence. This move reflects the broader industry trend of consolidating AI and data capabilities to enhance decision-making and operational efficiency. The $400 million deal underscores Progress’ commitment to expanding its AI infrastructure portfolio while maintaining financial discipline.

What we're watching

Integration Challenges: How Progress will integrate Domo’s AI and data platform capabilities into its existing offerings without disrupting operations.
Customer Retention: Whether Progress can maintain high retention rates among Domo’s 2,400 business customers post-acquisition.
Regulatory Approval: The pace at which regulatory approvals will be obtained and any potential hurdles that could delay the closing of the deal by November 30, 2026.