The announcement that Olo acquired by Thoma Bravo marks a pivotal development in the restaurant technology landscape. Olo Inc. (NYSE: OLO), a prominent open SaaS platform serving leading restaurant brands, has entered into a definitive agreement to be acquired by Thoma Bravo, a private equity firm renowned for investments in high-growth software and technology companies.
The all-cash transaction, valuing Olo’s equity at approximately $2 billion, offers shareholders $10.25 per share, representing a 65% premium over the company’s unaffected share price as of 30 April 2025. The substantial premium underscores market confidence in Olo’s differentiated value proposition and growth trajectory.
How ‘Olo acquired by Thoma Bravo’ is set to accelerate growth
Founded in 2005, Olo has established itself as a trusted partner to over 750 restaurant brands spanning more than 88,000 locations globally. Its open SaaS platform integrates digital ordering, secure payments, and guest engagement solutions, while aggregating millions of transactions daily into a unified data source. This data-centric approach enables restaurant operators to make informed decisions, increase order volumes, and enhance guest experiences across all channels.
The move to private ownership is expected to grant Olo greater strategic and operational flexibility. Freed from quarterly market scrutiny, the company aims to deepen innovation and capitalise on emerging trends within the hospitality sector.
Noah Glass, Olo’s Founder and Chief Executive Officer, commented: “Over the past two decades, we have positioned Olo as the market leader in digital restaurant ordering and engagement. Partnering with Thoma Bravo will allow us to build on this momentum, deliver increased value to our customers, and create a world where every restaurant guest feels like a regular.”
Board approval and shareholder value creation
The agreement has been unanimously approved by Olo’s Board of Directors, which deemed the offer attractive for shareholders and supportive of the company’s long-term mission. Brandon Gardner, Chairman of the Board, stated: “This transaction recognises the strength of Olo’s market position and delivers compelling value to shareholders through a meaningful premium.”
For Thoma Bravo, the acquisition aligns with its strategy of investing in category-leading software businesses poised for further expansion. Hudson Smith, Partner at Thoma Bravo, emphasised: “Olo’s robust platform and deep customer relationships make it an ideal fit for our portfolio. We look forward to supporting the team as they pursue new growth opportunities across the restaurant and hospitality sector.”
Transaction details and closing timeline
The transaction is expected to close by year-end 2025, subject to customary closing conditions, including shareholder approval and regulatory clearances. There are no financing conditions attached. Following completion, Olo’s common stock will be delisted, allowing the company to operate as a privately held business under its established brand.
Goldman Sachs is acting as exclusive financial advisor to Olo, with Goodwin Procter LLP providing legal counsel. Thoma Bravo is advised by Kirkland & Ellis LLP.
About Olo and Thoma Bravo
Olo remains committed to empowering restaurant brands with technology that streamlines operations, unifies guest data, and maximises profitability. With a vast network of over 400 integration partners, Olo continues to lead innovation within the restaurant ecosystem.
Thoma Bravo, one of the world’s largest software-focused investors with approximately $184 billion in assets under management, brings decades of expertise in scaling software platforms through strategic and operational excellence.
