Olo Inc. (NYSE:OLO) saw its stock climb 13% on Thursday after revealing a definitive agreement to be acquired by software investment firm Thoma Bravo in a cash transaction that values the restaurant technology company at about $2 billion.
According to the agreement, shareholders of Olo will receive $10.25 per share in cash, reflecting a 65% premium over the company’s closing price of $6.20 on April 30, 2025 — the last trading day before rumors of a potential deal surfaced.
The acquisition has been unanimously approved by Olo’s Board of Directors and is expected to finalize by the end of 2025, pending regulatory approvals and shareholder consent. After closing, Olo will transition into a privately held entity but continue to operate under its existing name and brand.
Established in 2005, Olo specializes in digital ordering, payment, and guest engagement platforms tailored to the restaurant industry. The firm currently supports over 750 restaurant brands across 88,000 locations and partners with more than 400 integration providers.
“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,” said Noah Glass, Olo’s Founder and CEO.
Brandon Gardner, Chair of Olo’s Board, emphasized the company’s solid market position as a key factor enabling the Board to secure a significant premium, describing the deal as being “in the best interest of shareholders.”
Goldman Sachs acted as the exclusive financial advisor to Olo, with Goodwin Procter LLP providing legal counsel. Kirkland & Ellis LLP is representing Thoma Bravo in legal matters.