Domo, Inc. provides a sophisticated cloud-based platform specifically designed for business intelligence. This service is available globally, with operations spanning the United States, Japan, and other international territories. The platform's core function is to digitally unite an organization's entire workforce—from senior executives to on-the-ground employees—with essential data, internal systems, and colleagues. This integration grants users immediate access to crucial real-time information and actionable insights, enabling them to oversee and manage business operations conveniently from their smartphones. The company, which was originally incorporated in 2010, was known as Domo Technologies, Inc. before officially changing its name to Domo, Inc. in December 2011. Its corporate headquarters are situated in American Fork, Utah.
Domo Announces Agreement to Sell Substantially All Assets and Certain Liabilities to Progress Software for $400 Million
Domo agreed to sell substantially all of its assets to Progress Software for $400 million in cash, a price representing an 81% premium to the 30-day volume weighted average price.
Following the close, Domo will remain a public entity under a new name and ticker, retaining approximately $246 million in net cash and more than $900 million in net operating loss carryforwards.
The board intends to use the proceeds to monetize tax assets or return capital to shareholders, with the transaction expected to close before November 30, 2026.