Olo Announces Plans of Acquiring Software Solution Platform Wisely for $187 Million

Tech platform Olo has announced that it will acquire software solution company, Wisely for around $187 million. This will be the company’s first acquisition since it went public and the deal is expected to close by the end of the fourth quarter of 2021. 

SEE ALSO: HubSpot Ventures Announces a $100 Million Fund, Will Invest in B2B Software Startups

How will Olo’s customers benefit from this acquisition?

Wisely is one of the most popular customer intelligence platforms. It is loaded with a bunch of tools that allow restaurants to offer personalized guest experiences via customer data. 

Olo CEO, Noah Glass said that Wisely provides a range of core capabilities that will be available to Olo customers once the deal is through. Some of these functions include front of a house solution, Host, marketing, and CRM solution with email marketing capabilities, and a customer sentiment feature that allows operators to evaluate guest feedback from internal and external sources such as Yelp and Google. 

Wisely will basically allow Olo users to combine these elements and create user profiles. These user profiles will provide restaurants with a clear picture of what is expected of them to create a wholesome experience for their customers. 

Besides, this acquisition will also enable Olo operators to streamline their digital capabilities in one place. Noah Glass also said that it is critical for restaurants to determine how their customers engage with their brand across different channels. This allows them to create a tailored experience for their customers. 

Olo will acquire Wisely for $77 million in cash and $110 million in the company’s Class A common stock. 

Olo’s future plans

This is Olo’s first acquisition after its IPO in March and Glass said that it might not be their last. He said that there are no current plans, mergers, and acquisitions (M&A) activities that cannot be ruled out. 

He also said that the entire IPO process provided them with an opportunity to add extra capital to their balance sheet. He said that they now have access to assets that they did not as a private company. 

Some of the other notable restaurant tech firms that have acquired other platforms include Toast, SpotOn, Restaurant365, and Reef. 

SEE ALSO: Emerson Announces Plans to Merge its Software Units with AspenTech

Feature Image Source: Image by rawpixel.com


Karandeep V

Karandeep V

Karandeep was born in Pune, Maharashtra, an upcoming metropolitan city in the Western region of India. While most members of his family are engineers, he had different ideas. He was more inclined toward exploring the non-technical aspects of a business, which is why he studied Bachelors of Business Administration at Symbiosis International University, Pune.  Having said that, his love for new and upcoming technologies remained intact, which is why he has written extensively about technology throughout his career. After a brief stint with a gaming company at the beginning of his career, he discovered that his love for writing was not temporary.  Being a tech geek, he always liked installing and playing around with new applications on his mobile devices and the home desktop. He was fascinated by how technology can simplify even the most mundane and complex tasks with just a few commands. He keeps a close eye on how businesses use different tools to streamline their operations to boost productivity and efficiency. At ToolsMetric, he writes product reviews that cover the main features and specifications of different enterprise applications. The sheer amount of innovation and hard work that goes into building these tech solutions is one of the reasons why Karandeep loves reviewing these tools. Besides product reviews, he also writes interesting news articles and blogs that track the latest developments in the tech industry.  When he is not writing, you can find him rooted to his seat playing video games, watching movies, or supporting his favorite football team. Since his childhood, he has always loved to travel and explore new places. Traveling is a major part of his life due to a myriad of reasons such as experiencing new cultures, food, and traditions. His other hobbies include playing football, cooking, and running.  You can find him on LinkedIn here.

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