Domo Stock Surges on Progress Software Acquisition Deal

By EC Assets · Published 23 July 2026

Domo shares rose significantly following an announcement of a definitive agreement with Progress Software. Progress Software plans to acquire Domo's AI and data platform business for $400 million. This transaction will involve substantially all of Domo's assets and certain liabilities. Progress Software, an AI infrastructure software leader, entered this agreement as of July 22, 2026. The acquisition is structured as an asset purchase transaction. Domo's board of directors unanimously approved the deal. Progress Software aims to expand its AI focus. The company intends to acquire substantially all assets of Domo, which provides a governed data platform for AI agents. Progress Software specializes in software products that enable the development, deployment, and management of AI, powered applications and digital experiences. This strategic move aligns with Progress Software's focus on AI, driven products. The company develops responsible AI, powered applications and experiences. It also provides tools to deploy and manage these applications. The acquisition is expected to close in the near term. Investors will likely monitor further statements from both companies regarding the integration of Domo's AI and data platform into Progress Software's operations. This article is intended for informational purposes only. It does not constitute investment advice.