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Thoma Bravo will take restaurant software-as-a-service platform Olo private for $10.25 per share.

Why it matters: The deal comes as M&A is regaining momentum.

How it works: New York-based Olo offers digital ordering, payment and guest engagement services through its open SaaS platform.

By the numbers: The cash deal marks a 65% premium to Olo's unaffected stock price, the company says. Shares were trading at $10.12 midday Thursday.

Olo, founded by CEO Noah Glass in 2005, went public in March 2021 and counts RRE Ventures, Stanley Capital, The Raine Group and Tiger Global Management among its investors, according to PitchBook.

What they're saying: "[Olo's] strong market position has allowed us to achieve a significant premium through this transaction," Brandon Gardner, Olo's chairman, said in a statement.

Inside the room: The deal, which is expected to close by the end of 2025, is not subject to a financing condition.

Goldman Sachs is acting as exclusive financial adviser to Olo. Goodwin Procter LLP is representing the company.

Thoma Bravo is represented by Kirkland & Ellis LLP.

Thoma Bravo grabs restaurant SaaS Olo for $2b

The deal comes as M&A is regaining momentum.

Illustration of social media icons in the shape of food

Thoma Bravo will take restaurant software-as-a-service platform Olo private for $10.25 per share.Why it matters: The deal comes as M&amp;A <a class="gtmContentClick" data-vars-link-text="is regaining" data-vars-click-url="https://www.axios.com/pro/merger-deals/2025/07/02/bankers-summer-deal-activity" data-vars-content-id="e858b39a-7222-4829-ab6f-eeec1f9c60ef" data-vars-headline="Thoma Bravo grabs restaurant SaaS Olo for $2b" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/merger-deals/2025/07/02/bankers-summer-deal-activity" target="_self">is regaining</a> momentum.

Thoma Bravo grabs restaurant SaaS Olo for $2b

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