In a major move in restaurant tech, Olo will be acquired by Thoma Bravo in a $2 billion cash deal.
Olo says this will support growth and product expansion for the over 750 restaurant brands it currently works with.
Founded in 2005, Olo has grown into a widely used platform for restaurants looking to manage digital ordering, payments, and guest data. It processes millions of transactions daily and serves more than 88,000 locations. Its client list includes Denny’s, P.F. Chang’s, Nando’s, and Cold Stone Creamery, among others. It also integrates with over 400 partners across the restaurant tech ecosystem.
Noah Glass, CEO and founder of Olo
“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. “By partnering with Thoma Bravo, we believe we can build on our success to date and accelerate our vision of helping our customers create a world where every restaurant guest feels like a regular.”
Hudson Smith, partner at Thoma Bravo, said the firm sees opportunity in Olo’s position.
“The incredible platform and deep customer relationships they’ve built over the last two decades make them an ideal investment for us.”
The deal was unanimously approved by Olo’s board and is expected to close by the end of 2025, pending shareholder and regulatory approvals.
Peter Hernandez, senior vice president at Thoma Bravo, called Glass “a visionary” and said the company has “earned the trust of many of the world’s most iconic brands.”
After the deal closes, Olo will continue operating under its current name as a private company.
Food On Demand will follow this story and share updates as they develop.
