Domo agreed to sell substantially all assets and employees of its AI and Data Platform Business to Progress Software for approximately $400 million, subject to adjustments for cash below $25 million and outstanding indebtedness. The company will retain its NOLs and other tax attributes and will assess uses of proceeds, including acquisitions to help realize tax benefits. Closing is subject to customary conditions, including HSR clearance and distribution of an information statement, and carries no financing condition. Concurrently, majority stockholders signed a Voting and Support Agreement and executed written consent to approve the deal, providing certainty of stockholder approval.
Agreement 1: Domo to Sell AI and Data Platform Business to Progress Software for About $400 Million
- Agreement type: Asset Purchase Agreement
- Counterparty: Progress Software
- Signed / Effective: Jul 22 2026 / same
- Duration / Termination: N/A
- Reason: Monetize assets and redeploy capital while preserving NOL value
Agreement 2: Key Holders Sign Voting and Support Agreement Backing Domo–Progress Asset Sale
- Agreement type: Voting and Support Agreement
- Counterparty: Majority Stockholders of Domo
- Signed / Effective: Jul 22 2026 / same
- Duration / Termination: Through closing
- Reason: Secure prompt stockholder approval of the transaction
Original SEC Filing:
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.