Progress Software to Acquire Domo’s AI and Data Platform Business

Acquisitio fu the st e gthe s the capabilities of P og ess data platfo m offe i gs to p ovide o ga izatio s the co text a d co t ol to secu ely tu f agme ted e te p ise k owledge i to gove ed, AI- eady i tellige ce—imp ovi g accu acy, speed a d cost.

BURLINGTON, Mass., July 22, 2026 (GLOBE NEWSWIRE) — P og ess Softwa e (Nasdaq: PRGS), a AI i f ast uctu e softwa e leade , today a ou ced that it e te ed i to a ag eeme t to acqui e substa tially all of the assets a d assume ce tai liabilities of Domo, i cludi g its AI a d data p oducts platfo m.

The acquisitio alig s with P og ess’ st ategy to delive the co text a d co t ol fo AI so custome s ca achieve thei busi ess goals with co fide ce. Domo’s age tic platfo m fo the i tellige t e te p ise compleme ts a d sig ifica tly b oade s P og ess’ data platfo m offe i gs, c eati g powe ful sy e gies to delive i ovative, secu e a d scalable AI data eadi ess solutio s wo ldwide.

“Effective AI sta ts with accu ate, t usted data a d co te t to p ovide the co text fo accu ate a d ve ifiable outcomes,” said Yogesh Gupta, CEO of P og ess Softwa e. “Domo is a leadi g AI a d data platfo m that e ables busi esses to access, i teg ate a d leve age thei data at scale. Domo’s p oduct capabilities, coupled with thei team’s expe tise i cloud a chitectu es a d a alytics, a e highly compleme ta y to ou expa di g P og ess data platfo m capabilities that sig ifica tly imp ove the secu ity, gove a ce a d cost of ou custome s’ AI i itiatives.”

Domo will add a custome base of ove 2,400 busi esses, as well as a global a d st ategic ecosystem of cloud data wa ehouse tech ology pa t e ships.

“We have built Domo a ou d the simple idea that t usted data should help people make bette decisio s a d take actio ,” said Josh James, fou de a d CEO of Domo. “The additio of ou p oduct capabilities to the P og ess data platfo m will give custome s a st o ge fou datio fo buildi g AI that u de sta ds thei busi ess, wo ks f om gove ed data a d ca be t usted to suppo t mea i gful decisio s.” 

The p oposed acquisitio of Domo’s AI a d data platfo m busi ess is a othe example of the co ti ued executio of P og ess’ Total G owth St ategy. P og ess co ti ues to mai tai fi a cial discipli e while seeki g to acqui e st o g busi esses with p oducts that compleme t its existi g AI solutio s po tfolio, i clude a obust custome base with st o g ete tio ates a d solid ecu i g eve ue, a d alig with its compa y cultu e.

Reite ati g Guida ceBased o cu e tly available i fo matio , P og ess a ticipates eve ue a d o -GAAP ea i gs pe sha e fo its fiscal thi d qua te will be withi o above the high e d of p eviously issued guida ce p ovided o Ju e 30, 2026. The compa y will discuss full fi a cial esults of its thi d qua te o a co fe e ce call o Septembe 30, 2026.

T a sactio DetailsThe t a sactio is st uctu ed as a asset pu chase whe e P og ess i te ds to acqui e substa tially all of the assets a d assume ce tai liabilities of Domo fo a cash pu chase p ice of $400 millio . The acquisitio is cu e tly expected to close withi P og ess’ fiscal yea , e di g Novembe 30, 2026, subject to obtai i g egulato y app ovals a d the satisfactio of othe customa y closi g co ditio s as set fo th i the defi itive ag eeme t.

P og ess expects to fi a ce the t a sactio with a combi atio of cash a d P og ess’ existi g evolvi g c edit facility.

Co fe e ce CallP og ess will host a co fe e ce call to eview details of the t a sactio at 5 p.m. EDT today, Wed esday, July 22, 2026. A live webcast of the call will be available usi g this li k. To access the co fe e ce call by pho e, please use this li k to et ieve dial-i details. Atte dees must egiste fo the co fe e ce call, a d a a chived ve sio a d suppo t mate ials will be available o the P og ess I vesto Relatio s webpage sho tly afte the co fe e ce call co cludes.

Adviso sCiti is se vi g as the exclusive fi a cial adviso fo P og ess o this t a sactio , a d DLA Pipe LLP (US) is se vi g as P og ess’ legal cou sel. Jeffe ies LLC is se vi g as the exclusive fi a cial adviso to Domo, a d Goodwi P octe LLP is se vi g as legal cou sel.

About P og ess Softwa eP og ess Softwa e (Nasdaq: PRGS) p ovides the co text a d co t ol o ga izatio s eed to eliably ext act value f om AI — co text d aw f om a o ga izatio ‘s data, co te t a d wo kflows, a d co t ol ove the secu ity, gove a ce a d cost of thei AI i itiatives. Lea how hu d eds of thousa ds of busi esses, powe i g the wo k of te s of millio s of p ofessio als wo ldwide, ealize value f om t usted, e te p ise- eady AI at www.p og ess.com.

About DomoDomo (Nasdaq: DOMO) is a AI a d Data P oducts platfo m that helps compa ies of all sizes leve age data a d AI to d ive value i today’s data-d ive wo ld. Built a ou d ou custome s’ p efe ed data fou datio , powe ed by ou awa d-wi i g Domo.AI solutio , a d e iched with ou pa t e ecosystem, the Domo platfo m e ables use s to p epa e, visualize, automate, dist ibute, a d build e d-to-e d data p oducts that p ovide solutio s ac oss the e ti e data jou ey. F om hyd ati g you data fou datio , to buildi g fully embedded applicatio s that ca be sha ed with you employees a d custome s, to deployi g AI models ac oss a va iety of p ovide s, Domo gives use s the ability to build data p oducts that ge e ate measu able value fo the busi ess.

Note Rega di g Fo wa d-Looki g Stateme tsThis p ess elease co tai s stateme ts that a e “fo wa d-looki g stateme ts” withi the mea i g of Sectio 27A of the Secu ities Act of 1933, as ame ded, a d Sectio 21E of the Secu ities Excha ge Act of 1934, as ame ded. P og ess has ide tified some of these fo wa d-looki g stateme ts with wo ds like “believe,” “may,” “could,” “would,” “might,” “should,” “expect,” “i te d,” “pla ,” “ta get,” “a ticipate” a d “co ti ue,” the egative of these wo ds, othe te ms of simila mea i g o the use of futu e dates. Risks, u ce tai ties a d othe impo ta t facto s that could cause actual esults to diffe f om those exp essed o implied i the fo wa d-looki g stateme ts i clude: P og ess’ ability to close the p oposed t a sactio , the expected time of closi g o the expected be efits the efo e; u ce tai ties as to the effects of dis uptio f om the acquisitio of Domo maki g it mo e difficult to mai tai elatio ships with employees, lice sees, othe busi ess pa t e s o gove me tal e tities; othe busi ess effects, i cludi g the effects of i dust y, eco omic o political co ditio s outside of P og ess’ co t ol; t a sactio costs; actual o co ti ge t liabilities; u ce tai ties as to whethe a ticipated sy e gies o tax be efits will be ealized; a d u ce tai ties as to whethe Domo’s busi ess will be successfully i teg ated with P og ess’ busi ess. Fo fu the i fo matio ega di g isks a d u ce tai ties associated with P og ess’ busi ess, please efe to P og ess’ fili gs with the Secu ities a d Excha ge Commissio , i cludi g its A ual Repo t o Fo m 10-K fo the fiscal yea e ded Novembe 30, 2025. P og ess u de takes o obligatio to update a y fo wa d-looki g stateme ts, which speak o ly as of the date of this p ess elease.

No -GAAP Fi a cial I fo matio This p ess elease co tai s ce tai o -GAAP fi a cial measu es. These measu es a e p ovided solely as suppleme tal i fo matio a d a e ot i te ded to be co side ed i isolatio o as a substitute fo the compa able GAAP measu es; these measu es eflect assumptio s a d expected sy e gies f om the t a sactio a d a e subject to isks a d u ce tai ties. P og ess is u able to p ovide a eco ciliatio of the p ojected o -GAAP measu es p ovided he ei to the eleva t p ojected GAAP measu es without u easo able effo t because ce tai items ecessa y to calculate such GAAP measu es a e i he e tly u ce tai a d depe de t o futu e eve ts.

P og ess is a t adema k o egiste ed t adema k of P og ess Softwa e Co po atio a d/o its subsidia ies o affiliates i the U.S. a d othe cou t ies. A y othe ames co tai ed he ei may be t adema ks of thei espective ow e s.