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Olo enters into definitive agreement to be acquired by Thoma Bravo

Thursday, July 03, 2025 — 16:37:44 (UTC)

NEW YORK, July 3, 2025--(BUSINESS WIRE)--Olo Inc. (NYSE:OLO) (“Olo” or the “Company”), a leading open SaaS platform for restaurants, today announced that it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading software investment firm, in an all-cash transaction valuing Olo at approximately $2.0 billion in equity value. The transaction is expected to help accelerate Olo’s growth and strengthen its platform and offerings for the over 750 restaurant brands it serves globally. Upon completion of the transaction, Olo will become a privately held company.

Under the terms of the agreement, Olo shareholders will receive $10.25 per share in cash. The per-share purchase price represents a premium of 65% over Olo's unaffected share price of $6.20 as of April 30, 2025, the last trading day prior to media reports regarding a potential transaction.

Founded in 2005, Olo is a leading restaurant technology provider of digital ordering, payments, and guest engagement solutions that help brands increase orders, streamline operations, and improve the guest experience. Olo processes millions of transactions per day on its open SaaS platform and aggregates transaction data into a single source to help restaurants better understand and serve their guests. Olo serves over 750 restaurant brands and 88,000 locations and has a network of more than 400 integration partners.

“Over the last twenty years, we’ve built Olo into the market leader in digital ordering for restaurants, while also expanding into payments and guest engagement to help restaurant brands aggregate and activate guest data to drive profitable traffic,” said Noah Glass, Olo’s Founder and CEO. “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.”

"It’s been amazing to watch the growth and evolution of Olo over the years. Noah’s vision and tenacity have created the leader in digital ordering, empowering restaurants to better and more efficiently serve their customers,” said Brandon Gardner, Chair of the Board of Olo. “The company’s strong market position has allowed us to achieve a significant premium through this transaction, and the Board unanimously believes that this is in the best interest of our shareholders."

“We are thrilled to be joining Noah and the Olo team at this exciting stage of their journey,” said Hudson Smith, a Partner at Thoma Bravo. “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 capitalize on the significant opportunities in the hospitality sector and work to achieve their impressive vision.”

“Noah is a visionary who helped create the digital ordering category for restaurants, and Olo’s platform has earned the trust of many of the world’s most iconic restaurant brands,” said Peter Hernandez, a Senior Vice President at Thoma Bravo. “We see tremendous potential ahead and are incredibly excited to work with Noah and his team on strategic and operational initiatives to help Olo accelerate growth and strengthen their position as an essential partner to restaurants everywhere.”

Transaction Details

The transaction, which was unanimously approved by the Olo Board of Directors, is expected to close by the end of calendar year 2025, subject to customary closing conditions, including approval by Olo shareholders and the receipt of required regulatory approvals. The transaction is not subject to a financing condition.

Upon completion of the transaction, Olo common stock will no longer be listed on any public stock exchange. The Company will continue to operate under the Olo name and brand.

Advisors

Goldman Sachs is serving as the exclusive financial advisor and Goodwin Procter LLP is serving as legal counsel to Olo. Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo.

About Olo

Olo (NYSE: OLO) is a leading restaurant technology provider with ordering, payment, and guest engagement solutions that help brands increase orders, streamline operations, and improve the guest experience. Each day, Olo processes millions of orders on its open SaaS platform, gathering the right data from each touchpoint into a single source—so restaurants can better understand and better serve every guest on every channel, every time. Over 750 restaurant brands trust Olo and its network of more than 400 integration partners to innovate on behalf of the restaurant community, accelerating technology’s positive impact and creating a world where every restaurant guest feels like a regular. Learn more at olo.com.

About Thoma Bravo

Thoma Bravo is one of the largest software-focused investors in the world, with approximately $184 billion in assets under management as of March 31, 2025. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo's deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in approximately 535 companies representing approximately $275 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo's website at thomabravo.com.

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Source: Company press release.

Categories: Acquisition