By
Rosalie Chan
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Josh James, founder and CEO, Domo.
Domo sells its main businesses for $400 million, leaving founder Josh James with a hoard of cash to put to work
Progress Software agreed to buy Domo's AI and data business for $400 million. Domo founder Josh James will run the remaining debt-free entity.
TL;DRAI
Progress Software acquires Domo's AI/data operations for $400M; spinoff retains $246M cash and $900M+ NOL carryforwards for tax-loss offsets. Consolidation play in data/AI; remaining shell enables opportunistic M&A funding in data analytics and automation.
761 words~3 min read
