Domo agrees to sell substantially all assets to Progress Software for $400 million cash

Domo reached a deal to sell substantially all assets and assume certain liabilities to Progress Software for $400 million in cash.

• Progress plans to fold Domo’s operating business and platform into its portfolio, while keeping support for customers and the technology platform.
• Domo expects about $246 million of net cash at closing, or $4.84 per share, an 81% premium to the 30-day VWAP.
• Closing is targeted before Progress’ fiscal year-end on Nov. 30, 2026, subject to regulatory approvals and customary conditions.
• Post-close, Domo will remain publicly listed under a new name and ticker, led by CEO Josh James, with limited operating expenses.