Thoma Bravo Agrees $2 Billion Deal to Take Olo Private (1)

Thoma Bravo has struck a $2 billion deal to acquire restaurant software maker Olo Inc. in a sign that private equity firms are still able to find bargains in hot equity markets.

The buyout firm is paying $10.25 a share in cash for Olo, according to a statement Thursday, representing a 65% premium over Olo’s share price on April 30 — the day before Bloomberg News reported the company was working with an adviser to explore a sale.

Founded in 2005, New York-based Olo counts restaurateur Danny Meyer and The Raine Group among its backers. The company serves more than ...