Investment firm Thoma Bravo has agreed to acquire Olo in an all-cash deal valuing the restaurant software provider at about $2 billion, the company said on Thursday.
Olo shareholders will receive $10.25 per share in cash under the terms of the deal, representing a 65 per cent premium to the stock’s closing price on April 30, the last trading day prior to media reports about a potential sale.
Olo will become a privately held company following the deal, which is expected to boost its growth by strengthening its platform and offerings.
The company, founded in 2005, provides digital ordering, payments and customer engagement solutions for more than 750 restaurant brands across 88,000 global locations.
