Private-equity firm Thoma Bravo has agreed to acquire restaurant software provider Olo Inc. for $10.25 a share in cash, valuing the New York-based company at about $2 billion. The offer represents a roughly 65% premium to Olo’s closing price on 30 April, the day before reports of a potential sale emerged. Olo’s stock jumped more than 13% in early trading on Thursday following the announcement. Founded in 2005, Olo supplies digital ordering, payments and customer-engagement tools to more than 750 restaurant brands across 88,000 locations worldwide, including Denny’s, P.F. Chang’s, Nando’s and Cold Stone Creamery. After cutting jobs in 2023 and 2024, the company returned to profitability in the first quarter of 2025, reporting net income of $1.81 million and employing 617 people in the United States. The all-cash transaction, endorsed by Olo’s board, is expected to close by year-end 2025, subject to shareholder and regulatory approvals. Olo would become a privately held company and pay a $73.7 million termination fee if it accepts a superior proposal. Goldman Sachs is advising Olo, while Thoma Bravo—whose assets under management total roughly $184 billion—is being represented by Kirkland & Ellis.