Thoma Bravo, a prominent investment firm, has announced its acquisition of Olo, a restaurant software provider, in an all-cash transaction valued at approximately $2 billion. This deal, confirmed on Thursday, will see Olo shareholders receiving $10.25 per share, which represents a significant 65% premium over the stock's closing price on April 30, just before rumors of the sale emerged.

Following the acquisition, Olo will transition to a privately held entity. The deal is anticipated to enhance Olo's growth by fortifying its platform and expanding its service offerings. Established in 2005, Olo specializes in digital ordering, payment processing, and customer engagement solutions, serving over 750 restaurant brands across 88,000 locations worldwide.

This acquisition marks a strategic move for Thoma Bravo, aiming to leverage Olo's capabilities in the rapidly evolving restaurant technology sector.