12:14 PM EDT, 07/03/2025 (MT Newswires) -- Olo (OLO) on Thursday agreed to be acquired and taken private by software investment firm Thoma Bravo in an all-cash deal, which gives the restaurant technology provider an equity value of about $2 billion.

Shareholders of Olo will receive $10.25 per share in cash, reflecting a 65% premium to the company's closing stock price on April 30, the last trading day before media speculation began about a potential transaction.

The company's stock jumped 14% in midday trading.

"The company's strong market position has allowed us to achieve a significant premium through this transaction, and the board unanimously believes that this is in the best interest of our shareholders," Olo Chair Brandon Gardner said in a statement.

Olo, which develops digital ordering and delivery solutions for restaurants, serves more than 750 restaurant brands across 88,000 locations. The company expects the deal to help accelerate its growth and strengthen its offerings.

The transaction, which requires clearance from regulators and approval from Olo's shareholders, is expected to complete by the end of the year. The company's stock will no longer trade publicly after the deal completes, but will retain the Olo brand.

"The incredible platform and deep customer relationships they've built over the last two decades make them an ideal investment for us," according to Hudson Smith, a partner at Thoma Bravo. "We look forward to supporting them as they capitalize on the significant opportunities in the hospitality sector and work to achieve their impressive vision."

In May, the company reported first-quarter adjusted earnings of $0.07 a share, up from $0.05 the year before. Revenue increased 21% year-over-year to $80.7 million. At the time, the company said it expected revenue to come in between $338.5 million and $340 million for 2025, while the current consensus on FactSet is for $339.2 million.

Price: 10.13, Change: +1.22, Percent Change: +13.69