Domo

Enterprise AI · Data Platform · Business Intelligence

Acquisition

Progress Software completes $400M acquisition of Domo's AI data platform

Owning the data pipeline, not just the AI model, is becoming the real battleground for enterprise AI spending.

• Progress Software completed its acquisition of the majority of Domo's AI and data platform assets, along with certain associated liabilities, for $400 million.
• Domo's cloud-native AI and data platform serves more than 2,400 companies and partners with major cloud data warehouse providers, and now becomes part of Progress's data platform lineup.
• Progress funded the purchase with a combination of cash on hand and its existing revolving credit facility, confirming the $400 million price it had already disclosed.
• Analysts tracking the deal estimate the acquired Domo business could contribute roughly $100 million in EBITDA to Progress going forward.
• Progress CEO Yogesh Gupta framed the deal around giving enterprises both 'context' (trusted data) and 'control' (governance and security) needed to scale AI and AI agents reliably.
• Domo customers are left without clarity on pricing, support or product roadmap changes under new ownership, leaving renewal negotiations more uncertain, according to independent analysis.
• The deal reflects a broader consolidation wave in enterprise software, where infrastructure vendors are acquiring established data relationships to control the trust layer AI outputs depend on, rather than competing purely on model capability.