Progress Software Completes Acquisition of Domo Assets for $400M

What Happened

• Progress Software Corporation (PRGS) announced on September 22, 2026 (Item 2.01) that it completed the previously disclosed purchase of substantially all assets and employees of Domo, Inc. The Transaction closed pursuant to the Asset Purchase Agreement dated July 22, 2026. Progress paid a total purchase price of $400 million in cash, funded with a combination of cash on hand and its existing revolving credit facility. The deal excluded Domo’s net operating loss carryforwards and included Progress’ assumption of certain liabilities. A press release about the closing was furnished as Exhibit 99.1.

Key Details

• Closing date: September 22, 2026.
• Purchase price: $400 million paid in cash.
• Scope: substantially all assets and employees of Domo, Inc.; excludes Domo’s NOL carryforwards; certain liabilities assumed.
• Regulatory/financial follow-up: Progress will file required financial statements and pro forma financial information under Rule 3-05 and Article 11 of Regulation S-X by amendment to this Form 8-K.

Why It Matters

• The acquisition adds Domo’s business intelligence, data visualization, integration, analytics, AI-powered data products and agents, workflow automation, and data governance capabilities to Progress’ portfolio, potentially expanding its offerings in analytics and AI for enterprise customers.
• The $400M cash outlay was funded partly from Progress’ revolving credit facility, which is a material use of cash/credit and will be detailed further when Progress files the post-closing financial statements and pro forma information.
• Investors should watch the upcoming amended 8-K for financial statements and pro forma disclosures to understand the transaction’s impact on Progress’ results, balance sheet and future earnings.