Progress Software completes $400 million acquisition of Domo AI business

Progress Software has completed the $400 million acquisition of substantially all of Domo’s AI and data-platform business. The deal includes assets, employees, and a customer base of more than 2,400 organizations. The acquired cloud-based platform provides capabilities in business intelligence, data integration, analytics, and workflow automation.

In its fiscal third quarter results for the period ended August 31, 2026, Progress Software reported revenue of $246 million, a 2% decrease year-over-year. However, annualized recurring revenue (ARR) grew 1% to $873 million on a constant currency basis. Diluted earnings per share rose 25% to $0.55 compared to $0.44 in the same quarter the previous year. CEO Yogesh Gupta stated that the Domo acquisition strengthens the company’s ability to help customers manage data and accelerate AI-powered innovation.