Olo (a leading open SaaS platform for restaurants) 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 billion in equity value.
The deal is expected to boost Olo’s growth and enhance its platform for over 750 restaurant brands globally. After the deal closes, Olo will become a privately held company.
Shareholders will receive $10.25 per share in cash, representing a 65% premium over Olo’s share price of $6.20 as of April 30, 2025, the last trading day before reports of the transaction emerged.
Founded in 2005, Olo provides digital ordering, payment solutions, and guest engagement tools, processing millions of transactions daily through its SaaS platform. Olo serves over 750 brands and 88,000 locations, supported by more than 400 integration partners.
The Olo Board of Directors has unanimously approved the deal, expected to close by the end of 2025, pending shareholder and regulatory approvals. After the transaction, Olo’s stock will no longer be publicly traded, though the company will continue to operate under the Olo brand.
Advisors: Goldman Sachs is serving as the exclusive financial advisor and Goodwin Procter is serving as legal counsel to Olo. Kirkland & Ellis is serving as legal counsel to Thoma Bravo.
KEY QUOTES:
“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. 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.”
Noah Glass, Olo’s Founder and CEO
“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. 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.”
Brandon Gardner, Chair of the Board of Olo
“We are thrilled to be joining Noah and the Olo team at this exciting stage of their journey. 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.”
Hudson Smith, a Partner at Thoma Bravo
“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. 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.”
Peter Hernandez, a Senior Vice President at Thoma Bravo
