DivestmentJul 22, 2026, 04:27 PM
Domo Sells AI & Data Platform Business for $400M; Retains $900M NOLs
AI Summary
Domo, Inc. announced a definitive agreement to sell substantially all of its AI and Data Platform Business to Progress Software Corporation for approximately $400 million in cash. Following the transaction, Domo will retain over $900 million in Net Operating Loss (NOL) carryforwards and is expected to have $246 million in net cash, or $4.84 per share, representing an 81% premium. The company will remain publicly listed under a new name and ticker, focusing on monetizing its NOLs and returning capital to shareholders.
Key Highlights
- Domo, Inc. agreed to sell substantially all of its AI and Data Platform Business to Progress Software Corporation.
- The aggregate purchase price for the divestment is approximately $400 million in cash.
- Domo will retain over $900 million in Net Operating Loss (NOL) carryforwards and certain other tax attributes.
- Post-closing, Domo expects to have approximately $246 million in net cash, or $4.84 per share.
- The $4.84 per share represents an 81% premium to the 30-day volume weighted average price.
- Domo will remain a publicly-listed entity, changing its name and ticker, to monetize NOLs and return capital.
- The transaction was unanimously approved by Domo's Board of Directors and by majority stockholders.
- The transaction is expected to close prior to November 30, 2026, subject to regulatory approvals.
Price Impact
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