Progress Software, an AI infrastructure software leader, today announced it has completed its acquisition of substantially all the assets of Domo's AI and data platform business, as well as assumed certain liabilities.
Acquisition advances Progress' strategy to deliver the context and control organizations need to achieve trusted AI and agentic outcomes with confidence.
"As organizations pursue AI initiatives, the challenge is no longer simply access to AI technology," said Yogesh Gupta, CEO of Progress Software. "It is creating the right context, grounded in trusted data and knowledge, and maintaining the right control through governance, security and oversight. Together, context and control enable organizations to adopt and scale AI with confidence. We are excited to welcome Domo to Progress because it strengthens our ability to help customers build that foundation."
Domo's cloud-native AI and data platform business will become part of Progress' existing data platform offerings, further strengthening Progress' ability to help customers connect, govern and activate enterprise data for secure, scalable AI and agentic initiatives.
Domo adds a customer base of over 2,400 businesses to Progress as well as global strategic partners including leading cloud data warehouse providers.
Continued Gupta, "Domo brings innovative technology, a talented team, a passionate customer base and a shared belief that organizations should be able to unlock the full value of their data. We see exciting opportunities ahead to build on our respective strengths and to continue helping organizations thrive in a world powered by AI."
As previously announced, Progress paid $400M for the acquisition, funded with a combination of cash and its existing revolving credit facility. Progress will provide additional information on the financial impact of this acquisition on its upcoming third quarter earnings conference call on Wednesday, September 30, at 5:00 p.m. ET.
About Progress Software
Progress Software provides the context and control organizations need to reliably extract value from AI—context drawn from an organization's data, content and workflows, and control over the security, governance and cost of their AI initiatives.
