PROGRESS SOFTWARE CORP /MA 8K

Progress Software agreed to acquire Domo’s AI and data platform business for $400 million in cash in an asset purchase expected to close by November 30, 2026, while reiterating its fiscal Q3 revenue and non-GAAP EPS guidance.

Progress Software Corporation announced that it has entered into a definitive agreement to acquire substantially all of the assets and assume certain liabilities of Domo, Inc.’s AI and data platform business for a cash purchase price of $400 million, with the deal structured as an asset purchase expected to close within Progress’s fiscal year ending November 30, 2026, subject to regulatory approvals and customary closing conditions. The acquisition is intended to expand and complement Progress’s data platform and AI infrastructure capabilities by adding Domo’s agentic AI and data products platform, a customer base of more than 2,400 businesses, and an ecosystem of cloud data warehouse partnerships. Progress plans to finance the transaction using a combination of cash and its existing revolving credit facility, and reiterated that it expects its fiscal third quarter revenue and non-GAAP EPS to be within or above the high end of guidance previously issued on June 30, 2026. Management highlighted anticipated strategic synergies in data readiness, governance, and AI enablement, while cautioning that closing, integration success, and realization of expected benefits are subject to various risks and uncertainties outlined in its SEC filings.

Filing Facts

CIK

876167

Ticker

-

Form

8K

Source Type

sec

Accession

0001552781-26-000390

Alert Tier

8