Olo to Acquire Omnivore
Lightning Partners advises leading provider of restaurant technology
CLEARWATER, FL and NEW YORK – February 23, 2022 – Olo Inc. (NYSE:OLO), a leading on-demand commerce platform powering the restaurant industry’s digital transformation, today announced that it will acquire Omnivore, the global standard for connecting restaurant technology.
Olo has signed a definitive agreement to acquire Omnivore Technologies, Inc., a restaurant technology provider that connects restaurants’ Point of Sale, or POS, systems with technologies that improve efficiency and increase profitability. Through the acquisition, restaurant brands will gain access to additional POS integration capabilities, new on-premise and payment features, and an expanded technology partner network. The acquisition will broaden Olo’s platform capabilities and allow restaurants to connect to apps and technologies that streamline operations, improve efficiency, enhance guest experience, and increase profitability.
Lightning Partners served as the exclusive financial advisor to Omnivore on the transaction.
Omnivore is a technology company that connects restaurants’ Point of Sale (POS) systems with technologies that improve efficiency and increase profitability. More than 22,000 restaurant locations are using the technology to solve operational challenges that range from third-party delivery to pay-at-the-table methods and to quickly adjust to changing consumer behavior. Restaurant icon Chris Sullivan is the catalyst behind Omnivore, which is based in Clearwater and successfully closed a $13 million Series A with investments from The Coca-Cola Company, Performance Food Group and Tampa Bay Lightning owner Jeff Vinik in 2018. For more information, visit Omnivore.io.
Olo is a leading on-demand commerce platform powering the restaurant industry’s digital transformation. Millions of orders per day run on Olo’s enterprise SaaS engine, enabling brands to maximize the convergence of digital and brick-and-mortar operations. The Olo platform provides the infrastructure to capture demand and manage consumer orders from every channel. With integrations to over 100 technology partners, Olo customers can build digital experiences with the largest and most flexible restaurant commerce ecosystem on the market. Over 400 restaurant brands use Olo to grow digital sales, maximize profitability, and preserve direct consumer relationships. Learn more at olo.com.
About Lightning Partners
Lightning Partners provides direction and advice to growth technology companies and their Boards of Directors on M&A, capital raising and strategy that drive significant shareholder value. The firm consistently and tenaciously delivers optimum results for entrepreneurs, growth companies and their investors, including industry leading valuations, transaction terms and close rates. For more information, visit www.lightningpartners.com.