Restaurant software provider Olo Inc. (OLO) entered a merger agreement on July 3, 2025, to be acquired by Thoma Bravo in a $2 billion all-cash deal.
Under the terms of the agreement, Olo shareholders will receive $10.25 per share in cash, representing a premium of 15.04% from the stock’s last close.
New York-based Olo is a restaurant technology provider that offers a software-as-a-service (SaaS) platform enabling multi-location restaurants to streamline digital ordering, delivery, payments, and guest engagement across channels. Operated by over 750 restaurant brands, Olo’s solutions help businesses increase orders, optimize operations, and create personalized guest experiences.
Thoma Bravo is a software-focused investor, with approximately $184 billion in assets under management as of March 31, 2025. The firm specializes in private equity, growth equity, and credit strategies, partnering with innovative software and technology companies to drive growth and operational excellence. With a track record of over 535 acquisitions representing $275 billion in enterprise value, Thoma Bravo leverages deep sector expertise and strategic insights to help its portfolio companies scale. The firm operates from offices in Chicago, Dallas, London, Miami, New York, and San Francisco.
In April, Bloomberg reported that Olo was exploring a potential sale after attracting takeover interest. The stock was trading at $6.20 before the report came out.
The deal is expected to close by the end of 2025.
After the deal closes, Olo will no longer be listed on any public stock exchange, but will continue to operate under the Olo name and brand.
Goldman Sachs served as financial advisor to Olo, with Goodwin Procter providing legal counsel. Thoma Bravo received legal guidance from Kirkland & Ellis.
The purchase price of Olo by Thoma Bravo is 5.54 times its sales.
For more detailed information about this merger and acquisition deal, please visit the Deal Metrics page through the link below.
Deal Metrics for the acquisition of Olo Inc. (OLO) by Thoma Bravo
The Deal Metrics page for each merger or acquisition includes:
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Editor’s Note: Baranjot Kaur contributed to this article