Olo Agrees to Thoma Bravo Buyout in $2 Billion Deal
Deal News | Jul 03, 2025 | Thoma Bravo
In a significant move within the restaurant technology sector, Olo Inc., a leading open SaaS platform for restaurants, has announced that it will be acquired by Thoma Bravo, a prominent software investment firm. The transaction, valued at approximately $2 billion in equity, was approved unanimously by Olo's Board of Directors and is expected to conclude by the end of 2025, subject to customary closing conditions, including shareholder and regulatory approval. This acquisition offers Olo shareholders $10.25 per share in cash, marking a 65% premium over its unaffected share price. Upon completion, Olo will transition to a privately held company. The transaction aims to expedite Olo’s growth by leveraging Thoma Bravo's software expertise and strategic insights. Established in 2005, Olo has developed a robust platform supporting over 750 restaurant brands, enhancing their digital ordering, payments, and guest engagement capabilities. The investment by Thoma Bravo underscores the potential of Olo’s technology in optimizing restaurant operations worldwide. Key advisors in this process include Goldman Sachs and Goodwin Procter LLP for Olo, with Kirkland & Ellis LLP advising Thoma Bravo.
Sectors
- Software and Technology
- Hospitality and Restaurant Technology
Geography
- United States – Both Olo and Thoma Bravo are based in the United States, with Olo serving numerous restaurant brands across the nation, and Thoma Bravo having multiple offices, including in Chicago, Dallas, and San Francisco.
Industry
- Software and Technology – The acquisition involves Thoma Bravo, a leading software-focused private equity firm, and Olo, which provides SaaS solutions for digital ordering and payments in the restaurant industry.
- Hospitality and Restaurant Technology – Olo operates within this sector by providing restaurant brands with digital ordering, payment systems, and guest engagement technology, impacting how restaurants serve and interact with customers.
Financials
- $10.25 per share – The cash offer per share for Olo's shareholders, representing a 65% premium over the unaffected share price.
- $2 billion – The total equity value of the transaction for the acquisition of Olo by Thoma Bravo.
- 65% – The premium over Olo's unaffected share price provided to shareholders as part of the acquisition offer.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Olo Inc. | Target Company | Company | A leading open SaaS platform for restaurants, providing digital ordering, payments, and guest engagement solutions. |
| Thoma Bravo | Bidding Company | Company | A software investment firm, known for acquiring and growing software companies. |
| Goldman Sachs | Financial Advisor to Olo | Company | Serving as the exclusive financial advisor to Olo in the transaction. |
| Goodwin Procter LLP | Legal Advisor to Olo | Company | Serving as legal counsel to Olo in the acquisition process. |
| Kirkland & Ellis LLP | Legal Advisor to Thoma Bravo | Company | Providing legal counsel to Thoma Bravo for this acquisition. |