Thoma Bravo, one of the world’s largest software-focused investment firms, has completed its acquisition of Olo, a leading open SaaS platform serving the restaurant industry. The all-cash deal is valued at approximately $2 billion in equity and was approved by Olo’s stockholders during a special meeting held on September 9, 2025.
As part of the transaction, Olo stockholders will receive $10.25 in cash for each share of common stock they own. Following the closing, Olo’s shares have stopped trading. They will be formally delisted from the New York Stock Exchange, marking their transition from a publicly traded company to a privately held one under Thoma Bravo’s ownership.
Olo has built its reputation as a technology provider that helps restaurants streamline operations, manage orders, process payments, and engage with guests across multiple channels. Hundreds of restaurant brands use its platform and integrate with a vast network of technology partners, enabling operators to improve efficiency and deliver more personalized customer experiences.
For Thoma Bravo, the acquisition represents another strategic investment in a high-growth software company operating in a sector undergoing rapid digital transformation. By taking Olo private, the firm aims to provide the resources and flexibility needed to accelerate innovation, expand capabilities, and strengthen Olo’s position in the competitive restaurant technology market.
The completion of this deal underscores the growing importance of technology in the hospitality industry, where platforms like Olo are increasingly essential for meeting customer expectations and driving operational success.
Advisors: Goldman Sachs served as the exclusive financial advisor, and Goodwin Procter served as legal counsel to Olo. Morgan Stanley served as the financial advisor, and Kirkland & Ellis served as legal counsel to Thoma Bravo.
KEY QUOTES:
“Olo has grown from a pioneer in digital ordering into a world-class platform that helps restaurants engage guests and drive profitable growth. We are excited to continue our ambitious journey with Thoma Bravo. Together, we will take Olo’s mission further by scaling faster and innovating deeper, while continuing to deliver industry-leading reliability and exceptional experiences for restaurants and their guests.”
Noah Glass, Olo’s Founder and CEO
“Olo has built a powerful platform and strong relationships with some of the world’s most iconic and admired restaurants brands. We are excited to support Noah and his team’s vision for the future of Olo and the restaurant technology space. We see enormous potential ahead for them to scale their business, expand their capabilities, and deepen their impact on how restaurants operate and connect with their guests.”
Hudson Smith, a Partner at Thoma Bravo
