Huckleberry.ai sold its assets to Progress Software for $221 million in cash
Huckleberry.ai, Inc., a listed computer and IT services company formerly known as Domo, completed the sale of substantially all of its assets to Progress Software Corporation on September 22, 2026, receiving approximately $221.0 million in cash after purchase price adjustments sec.gov. The filing does not state how the buyer financed the purchase, and it names no lender or agent.
Deal facts. Seller: Huckleberry.ai, Inc., a listed company in computer and IT services. What was sold: named in the filing. Buyer: Progress Software Corporation. Closed: September 22, 2026. Consideration: At the closing of the Transactions, the Company received approximately $221.0 million in cash, after giving effect to the purchase price adjustments set forth in the Purchase Agreement, the Warrant Repurchase (as defined below) and certain other adjustments in respect of Excluded Liabilities (as defined in the Purchase Agreement) agreed between the parties for administrative purposes. Financing: not stated in the filing. Lender or agent: not named in the filing.
The filing states the consideration was approximately $221.0 million in cash, after purchase price adjustments, a warrant repurchase, and other adjustments for excluded liabilities agreed between the parties. The report does not state how Progress financed the purchase, and it names no lender or agent, so the public record is silent on whether the buyer used cash on hand, a loan, or some other source for the payment.
Huckleberry's press release states that Progress acquired substantially all of the company's assets and employees, excluding the company's net operating loss carryforwards, and assumed certain of its liabilities, and that the company's AI and data platform have become part of Progress sec.gov. Founder and chief executive Josh James said the company was built on the belief that data should change the way a business runs.
For context. U.S. jobs in administrative, support and waste management services stood at 9,062.7 thousand in August 2026, according to the Bureau of Labor Statistics (Current Employment Statistics). That is up 4.4 thousand jobs from July 2026 and up 79.4 thousand jobs from August 2025.
An owner of a similar services company can take a clear read from how this deal was paid for. The entire consideration arrived in cash at closing, with no financing stated and no lender named, and the seller kept its net operating loss carryforwards out of the sale while the buyer took the assets, the employees and certain liabilities. That structure shows a seller can separate tax attributes it wants to keep from the operating business a buyer wants to own.
The documents point next to how Huckleberry uses the cash it received and the tax attributes it kept. The release says the company starts with $221 million in cash and more than $900 million in net operating loss carryforwards, and that Josh James will continue to lead the debt-free public company, so what the company does with that cash and those carryforwards is what to watch.