NEW YORK: Olo Inc. (NYSE: OLO), a leading open SaaS platform for restaurants, announced Friday it has entered into a definitive agreement to be acquired by software investment firm Thoma Bravo in an all-cash transaction valued at approximately $2.0 billion.
Under the terms of the agreement, Olo shareholders will receive $10.25 per share in cash, representing a 65% premium over the company’s unaffected share price of $6.20 as of April 30, 2025. The deal, unanimously approved by Olo’s Board of Directors, is expected to close by the end of 2025, pending shareholder and regulatory approvals.
Upon completion, Olo will become a privately held company and its common stock will no longer be listed on any public exchange.
Founded in 2005, Olo provides digital ordering, payments, and guest engagement solutions to over 750 restaurant brands across 88,000 locations. The company processes millions of transactions daily and partners with more than 400 integration providers.
“Over the last twenty years, we’ve built Olo into the market leader in digital ordering for restaurants,” said Noah Glass, Olo’s founder and CEO. “By partnering with Thoma Bravo, we believe we can accelerate our vision of helping our customers create a world where every restaurant guest feels like a regular.”
Brandon Gardner, chair of Olo’s board, said the transaction delivers significant value to shareholders and reflects the company’s strong market position. “Noah’s vision and tenacity have created the leader in digital ordering, empowering restaurants to better and more efficiently serve their customers,” Gardner said.
Thoma Bravo, which manages approximately $184 billion in assets, has a long track record of investing in growth-oriented software companies. “We see tremendous potential ahead and are incredibly excited to work with Noah and his team,” said Peter Hernandez, senior vice president at Thoma Bravo.
Goldman Sachs is serving as exclusive financial advisor and Goodwin Procter LLP as legal counsel to Olo. Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo.