DOMO'S UNUSUAL $400M ACQUISITION

Summary from the TLDR Founders newsletter

Usually, an acquisition means selling the company. Domo is selling almost everything that makes it Domo and keeping the public company alive. After it broke a debt covenant, its lender gave it until July 31 to sign a deal. Progress Software is paying $400 million for the software, customers, and IP. What remains will have about $246 million in cash and $900 million in tax losses it can use against future profits. Progress gets the business. Domo's management gets another shot at buying something else.