Olo Inc., a prominent open SaaS platform for restaurants, has entered a definitive agreement to be acquired by Thoma Bravo, a leading software investment firm, in a $2 billion all-cash transaction. This acquisition aims to fuel Olo’s growth, enhancing its digital ordering, payments, and guest engagement solutions for over 750 restaurant brands worldwide.
Olo to be acquired by Thoma Bravo for $2 billion in equity value.
Shareholders to receive $10.25 per share, a 65% premium over unaffected price.
Acquisition to accelerate Olo’s growth in restaurant technology solutions.
Olo serves over 750 brands and 88,000 locations globally.
Transaction to close by end of 2025, pending shareholder and regulatory approval.
Olo will become a privately held company post-transaction.
Founded in 2005, Olo has established itself as a leader in restaurant technology, offering solutions for digital ordering, payments, and guest engagement. The platform processes millions of transactions daily, serving over 750 restaurant brands across 88,000 locations. With a network of more than 400 integration partners, Olo aggregates transaction data to provide restaurants with actionable insights, driving operational efficiency and enhanced guest experiences. The acquisition by Thoma Bravo is expected to bolster Olo’s ability to innovate and expand its market reach.
“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.
Thoma Bravo’s acquisition of Olo aligns with its focus on investing in high-growth software companies. The $10.25 per share offer represents a 65% premium over Olo’s unaffected share price of $6.20 as of April 30, 2025. This premium underscores the strong market position Olo has cultivated over nearly two decades.
“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 firm aims to support Olo in capitalizing on opportunities within the hospitality sector, enhancing its platform to meet evolving industry needs.
Olo’s platform empowers restaurants to streamline operations and improve guest experiences through data-driven solutions. The partnership with Thoma Bravo is expected to accelerate the development of new features and integrations, further solidifying Olo’s role as a critical technology partner for restaurants. “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.
The transaction, unanimously approved by Olo’s Board of Directors, is slated to close by the end of 2025, subject to shareholder and regulatory approvals. Post-acquisition, Olo will transition to a privately held company, continuing to operate under its existing brand. The move to private ownership is expected to provide Olo with greater flexibility to pursue long-term growth strategies.
“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 acquisition positions Olo to further its mission of transforming the restaurant industry through innovative technology. With Thoma Bravo’s support, Olo is poised to enhance its offerings, driving value for restaurant brands and their guests worldwide.
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.
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.
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