Olo Inc. (OLO) Announces Acquisition of Wisely - William Blair

William Blair analyst Bhavan Suri reiterated an Outperform rating on Olo Inc. (NYSE: OLO) after the company announced that it has reached an agreement to acquire Wisely, a leading customer intelligence and engagement platform for restaurants.

The analyst stated "The platform is focused on driving profitability at the customer level rather than just at the restaurant level, and optimizing customer lifetime value. Olo is acquiring Wisely for $187 million including $77 million in cash and $110 million in equity, and the transaction is expected to close in the fourth quarter (we will wait to update estimates until it closes). This represents Olo’s first acquisition as it has developed its existing platform organically. We note that we published a private company spotlight on Wisely earlier this year".

For an analyst ratings summary and ratings history on Olo Inc. click here. For more ratings news on Olo Inc. click here.

Shares of Olo Inc. closed at $27.04 yesterday.

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