Olo, a software-as-a-service (Saas) platform for restaurants, is to be acquired by software investment company Thoma Bravo for $2bn, becoming a private entity.
The strategic move is anticipated to expedite Olo’s growth, enhance its platform and fortify its offerings to the more than 750 restaurant brands it serves globally.
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Olo shareholders will receive $10.25 per share in cash, a 65% premium over the company’s unaffected share price of $6.20 on 30 April 2025, the last trading day before speculation of a potential deal surfaced.
Founded in 2005, Olo is a technology provider for restaurants, offering digital ordering, payment and guest engagement solutions to facilitate increased orders, streamlined operations and enhanced guest experiences.
Olo processes orders on its open SaaS platform and collects accurate information from each touchpoint into a single source, allowing restaurants to better understand and serve guests.
Olo founder and CEO Noah Glass expressed confidence in the partnership with Thoma Bravo: “By partnering with Thoma Bravo, we believe we can build on our success to date and accelerate our vision of helping our customers create a world where every restaurant guest feels like a regular.”
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By GlobalDataThe transaction, endorsed by Olo’s board of directors, is anticipated to conclude by the end of 2025.
Olo’s common stock will then be delisted from public stock exchanges, but the company will maintain its operations under the Olo brand.
Thoma Bravo Hudson Smith shared his enthusiasm about joining forces with Olo: “The incredible platform and deep customer relationships they’ve built over the last two decades make them an ideal investment for us. We look forward to supporting them as they capitalise on the significant opportunities in the hospitality sector and work to achieve their impressive vision.”
Goldman Sachs is acting as the exclusive financial advisor, with Goodwin Procter providing legal counsel to Olo. Thoma Bravo has engaged Kirkland & Ellis for legal counsel.
