Progress Software Completes Acquisition of Domo's AI and Data Platform Business

(NASDAQ:PRGS) Progress Software announced it has completed the acquisition of substantially all the assets of Domo’s AI and data platform business and has assumed certain liabilities. Yogesh Gupta, CEO of Progress Software, stated that the acquisition will help organizations create the right context and control for trusted AI outcomes, emphasizing the importance of governance, security, and oversight. Domo's cloud-native AI and data platform business will be integrated into Progress’ existing data platform offerings, enhancing Progress’ capabilities to help customers connect, govern, and activate enterprise data for secure and scalable AI and agentic initiatives. The acquisition brings over 2,400 business customers and global strategic partners, including leading cloud data warehouse providers, to Progress. Gupta highlighted that Domo contributes innovative technology, a talented team, and a passionate customer base, and shares Progress’ belief in unlocking the full value of organizational data. Progress paid $400 million for the acquisition, funded through a combination of cash and its existing revolving credit facility. The company will provide further details on the financial impact of the acquisition during its third quarter earnings conference call scheduled for Wednesday, September 30, at 5:00 p.m. ET. The acquisition is expected to strengthen Progress’ ability to support customers in building a foundation for AI adoption and scaling. The integration of Domo’s business is anticipated to create opportunities for both companies to leverage their strengths. The transaction includes the assumption of certain liabilities related to Domo’s AI and data platform business. Progress Software provides solutions that enable organizations to extract value from AI by ensuring context and control over data, content, workflows, security, governance, and cost. The company serves hundreds of thousands of businesses and tens of millions of professionals worldwide. The press release notes that there are risks and uncertainties related to the acquisition, including potential disruption to relationships with employees, licensees, business partners, or governmental entities, as well as transaction costs and integration challenges. There are also uncertainties regarding whether anticipated synergies or tax benefits will be realized and whether Domo’s business will be successfully integrated with Progress’ business.

Progress Software Reports Fiscal Second Quarter 2026 Financial Results

(NASDAQ:PRGS) Progress Software announced its financial results for the fiscal second quarter ended May 31, 2026. The company is a member of the Russell 2000 Index and describes itself as a trusted provider of AI-powered digital experience and infrastructure software. Progress will host a conference call today at 5:00 p.m. Eastern Time to discuss its results and outlook. A live webcast of the call will be available, and a replay along with supporting materials will be accessible on the Progress Investor Relations webpage following the event. Millions of developers and technologists at hundreds of thousands of organizations depend on Progress every day. The company’s earnings release and a supplemental slide presentation can be accessed via the Investor Events & Presentations link on the Progress Investor Relations webpage. No specific revenue, profit, or other financial figures were disclosed in the announcement.

PROGRESS SOFTWARE CORP /MA