In a landmark deal shaping the future of restaurant technology, Kirkland & Ellis has successfully guided private equity giant Thoma Bravo through its acquisition of Olo Inc., a major player in digital ordering systems. The all-cash transaction, pegged at approximately $2 billion, offers Olo's shareholders $10.25 per share. This strategic move not only underscores the value seen in Olo's innovative solutions, which are utilized by over 750 restaurant brands, but also highlights Thoma Bravo's commitment to expanding its influence in the software and tech sectors.

The acquisition has received unanimous backing from Olo’s board of directors and is anticipated to conclude by the end of 2025, subject to shareholder and regulatory nods of approval. Olo, which has revolutionized online ordering, payments, and data-driven customer engagement for restaurants, looks to leverage Thoma Bravo’s resources to propel further growth and enhance service offerings.

Noah Glass, Olo’s Founder and CEO, expressed enthusiasm about the partnership, noting, "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.”

Peter Hernandez, Senior Vice President at Thoma Bravo, praised Olo’s leadership and technological prowess, stating, "Noah is a visionary who helped create the digital ordering category for restaurants, and Olo’s platform has earned the trust of many of the world’s most iconic restaurant brands. We see tremendous potential ahead and are incredibly excited to work with Noah and his team."

The legal muscle powering this acquisition includes a multidisciplinary team from Kirkland & Ellis, led by corporate lawyers Bradley Reed, Corey Fox, Jeremy Mandell, George Boden, and Will Pretto. Their expertise is complemented by Brian Ford and Fred Lim in debt finance, with Michael Keeley providing capital markets counsel.

Meanwhile, Goldman Sachs is serving as the exclusive financial advisor to Olo, with Goodwin Procter LLP stepping in as legal counsel.

This deal not only marks a significant milestone for Thoma Bravo, which boasts over $184 billion in assets under management and a history of fostering substantial growth in its portfolio companies but also solidifies Kirkland & Ellis's reputation as a powerhouse in managing complex, high-stakes transactions across the globe.