Thoma Bravo has finalised its $2bn acquisition of Olo, taking the US restaurant technology provider private in an all-cash transaction approved by shareholders earlier this week.

Under the terms of the deal, Olo stockholders received $10.25 per share in cash. The company’s stock has now been delisted from the New York Stock Exchange.

Founded in 2005, Olo has grown into a leading SaaS platform supporting more than 750 restaurant brands with ordering, payment, and guest engagement solutions. Its platform processes millions of orders daily through a network of over 400 integration partners.

“Olo has grown from a pioneer in digital ordering into a world-class platform that helps restaurants engage guests and drive profitable growth,” said Noah Glass, Olo’s founder and CEO. “Together with Thoma Bravo, we will take Olo’s mission further by scaling faster and innovating deeper.”

Hudson Smith, Partner at Thoma Bravo, added: “Olo has built a powerful platform and strong relationships with some of the world’s most iconic and admired restaurant brands. We see enormous potential ahead for them to scale their business, expand their capabilities, and deepen their impact on how restaurants operate and connect with their guests.”

Goldman Sachs served as exclusive financial adviser and Goodwin Procter as legal counsel to Olo, while Morgan Stanley advised Thoma Bravo alongside Kirkland & Ellis as legal counsel.

The acquisition reinforces Thoma Bravo’s strategy of investing in growth-oriented software companies, with $181bn in assets under management and a track record of more than 555 deals representing $285bn in enterprise value.

If you think we missed any important news, please do not hesitate to contact us at news@pe-insights.com.

Can`t stop reading? Read more.