Domo sells its main businesses for $400 million, leaving founder Josh James with a hoard of cash to put to work

Progress Software will acquire Domo’s AI and data business for $400 million. Domo will retain its current leadership and operate as a separate entity post-deal. The transaction is a constructive strategic step that could support AI/data capabilities and drive positive sentiment toward both companies.

Analysis

Progress Software will acquire Domo’s AI and data business for $400 million. Domo will retain its current leadership and operate as a separate entity post-deal. The transaction is a constructive strategic step that could support AI/data capabilities and drive positive sentiment toward both companies.