Observed Signal · Jul 22, 2026 · corporate_event · Source: SEC API · Impact: 4.5/5
financials Market: 8-K Financial Filing Analysis for Progress (2026-07-22)
On July 22, 2026, Progress Software Corporation entered into a definitive Asset Purchase Agreement to acquire substantially all assets, employees, and operations of Domo, Inc.'s AI and Data Platform Business for an aggregate purchase price of approximately $400 million. The acquisition covers Domo's cloud, hosted, and hybrid platforms for business intelligence, data analytics, workflow automation, and AI-powered data products. The transaction is funded via existing cash and Progress's revolving credit facility, with no financing condition attached. Additionally, stockholders holding sufficient voting power to approve the sale have entered into a Voting and Support Agreement, locking in required shareholder approval.
This major $400 million acquisition significantly expands Progress's enterprise portfolio into AI agents, business intelligence, and cloud data analytics while executing on its ongoing M&A-driven growth strategy.
Key Takeaways & Evidence Grounding
- Progress Software entered an Asset Purchase Agreement to acquire Domo, Inc.'s AI and Data Platform Business for approximately $400 million in cash and revolving credit facility borrowings.
- The transaction includes downward adjustments if acquired cash at closing is under $25 million and adjustments for outstanding indebtedness.
- Stockholders holding sufficient voting power at Domo executed a Voting and Support Agreement to approve the transaction via written consent, eliminating further shareholder approval requirements.
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