Progress Software to acquire Domo's AI data platform for about $400 million

Progress Software agreed to acquire substantially all of Domo’s AI and data-platform business for about $400 million in cash, the companies said in a deal announced July 22, 2026. The purchase will be funded through cash on hand and Progress’s existing revolving credit facility.

The acquisition adds Domo’s base of more than 2,400 customers and expands Progress’s reach in business intelligence, analytics and AI governance – the controls that make enterprise AI outputs auditable.

John Ainsworth, Progress executive vice president and general manager, said the deal strengthens the company’s ability to deliver governed data platforms for reliable, auditable AI decision-making.

The transaction is expected to close within Progress’s fiscal year ending November 30, 2026, subject to regulatory approval and customary closing conditions. Domo will remain publicly listed and change its name and stock ticker after the deal closes.

For Progress, a serial acquirer of enterprise software, the purchase folds a self-service analytics platform into a portfolio it has built through repeated buyouts. Governance has become the selling point for enterprise data tools as companies wire AI models into decisions they must later defend to auditors and regulators.

Whether the roughly 2,400 Domo customers stay through the ownership change will test how much of the $400 million price the deal returns.