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

Event summary

Progress Software completed the acquisition of Domo’s AI and data platform business for $400M, funded via cash and revolving credit.
The deal includes over 2,400 businesses in Domo’s customer base and global strategic partners, including leading cloud data warehouse providers.
Domo’s cloud-native AI and data platform will integrate into Progress’ existing data platform offerings.
Progress will discuss the financial impact of the acquisition on its Q3 earnings call on September 30, 2026.

The big picture

Progress Software’s acquisition of Domo’s AI and data platform reinforces its strategy to provide trusted AI infrastructure, addressing the growing demand for secure, scalable AI solutions. The deal aligns with broader industry trends where enterprises prioritize data governance and control as AI adoption accelerates. With this move, Progress aims to strengthen its position in the AI infrastructure market, competing with other players investing heavily in AI-driven data platforms.

What we're watching

Integration Challenges: How Progress will merge Domo’s cloud-native AI platform with its existing data offerings without disrupting operations.
Customer Retention: Whether Progress can retain Domo’s 2,400+ business customers while aligning them with its broader AI strategy.
Financial Impact: The pace at which the acquisition contributes to Progress’ revenue growth, given the $400M investment.