Progress Software to Acquire Utah’s Domo for $400 Million
Utah-based business analytics firm Domo, founded by Josh James who coined the term 'Silicon Slopes,' is being acquired by Progress Software for $400 million. This sale marks a significant discount from Domo's peak valuation. The acquisition includes Domo's assets and…
Salt Lake City, UT, July 23, 2026 —
Progress Software has announced its agreement to acquire Domo, a Utah-based business analytics firm, for $400 million. The acquisition, which includes Domo’s assets and employees, is expected to be completed in the near future. Progress Software has stated its intention to continue supporting the Domo platform following the integration.
Domo was founded by Josh James, a prominent figure in Utah’s technology sector. James is also credited with coining the term ‘Silicon Slopes’ to describe the region’s growing tech hub. This acquisition comes at a valuation significantly lower than Domo’s peak market valuation.
The deal underscores James’s sustained influence on the Utah tech landscape. His prior venture, Omniture, a web analytics company, achieved a substantial exit when it was acquired by Adobe for $1.8 billion. This history further contextualizes the significance of the current acquisition for both Domo and the broader Silicon Slopes community.
The financial terms of the transaction place the acquisition value at $400 million. Further details regarding the timeline for the completion of the acquisition and integration plans were not immediately available. Progress Software’s commitment to maintaining the Domo platform is a key aspect of the agreement.
Story summarized from the original created by Art Raymond on www.deseret.com, see more information here.
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