Description
Progress Software’s Latest Acquisition Could Unlock Hidden Data Value!
Progress Software has moved to acquire substantially all assets and selected liabilities of Domo’s AI and data platform business for a headline cash price of $400 million. After accounting for acquired cash, anticipated tax benefits and transaction expenses, management estimates a net purchase price of approximately $355 million, representing slightly more than one times Domo’s fiscal 2026 revenue. The proposed transaction follows a strong second quarter in which Progress generated $253 million of revenue, $79 million of adjusted free cash flow and a 40% operating margin, while raising its full-year outlook. Progress views Domo as a strategic extension of its data platform, semantic analysis and agentic retrieval capabilities. Domo adds cloud-native data ingestion, transformation, analytics, AI workflows and relationships with major cloud data warehouses.
