Domo agrees to sell substantially all operating assets to Progress for $400 million cash
On July 22, 2026, Domo announced that Progress Software had agreed to acquire substantially all of Domo’s operating assets and employees, including its AI and data platform, customer contracts, and intellectual property, while excluding Domo’s net operating loss carryforwards and assuming certain liabilities, for $400 million in cash. The transaction is expected to close before November 30, 2026, subject to regulatory approvals and other customary conditions. At closing, Domo will pay off its existing credit facility, retain more than $900 million of NOL carryforwards, and remain a separate publicly listed entity.
The candidate is a valid forward-looking corporate development, but its core verified update is Domo’s definitive agreement to sell substantially all of its operating assets to Progress Software, rather than merely a plan to address liquidity risks. Domo and Progress both announced the $400 million cash asset purchase on July 22, 2026, with closing subject to regulatory and other customary conditions; the transaction would transfer Domo’s operating business to Progress while leaving Domo as a separate listed entity with retained NOL carryforwards. The September 3 TradingView item is a later summary, so the occurrence timestamp is reset to the July 22 announcement; the date is explicit, while 20:15Z is inferred from the contemporaneous news timestamp. The transaction is highly material for DOMO and strategically meaningful for PRGS, but effects on competitors, consultants, and asset managers are speculative, so only DOMO and PRGS are approved stakeholders.
the company faces significant liquidity risks due to covenant breaches and is relying on the closing of a $400 million asset sale to Progress Software.
Post-sale, the company will repay all debt and focus on monetizing NOLs and strategic opportunities.