Olo Completes Acquisition of Wisely Inc., a Leading Customer Intelligence and Engagement Platform for Restaurants
Olo Inc., a leading on-demand commerce platform powering the restaurant industry’s digital transformation, announced that on November 4, 2021, it completed the acquisition of Wisely Inc., a leading customer intelligence platform that enables restaurant brands to personalize the guest experience to maximize customer lifetime value. The acquisition was first announced on October 21, 2021.
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“We are excited to welcome the Wisely team to the Olo family”
“We are excited to welcome the Wisely team to the Olo family,” said Noah Glass, CEO and Founder of Olo. “Together Olo + Wisely will create a differentiated and wide breadth of product offerings that will accelerate our restaurant brands’ digital transformation, deepening brands’ relationships with customers, accelerating Olo’s ability to reach Digital Entirety: touching, adding value to, and deriving revenue from every restaurant transaction.”
Olo acquired Wisely for consideration of approximately $187 million, a combination of $77 million in cash and approximately 3.69 million shares of Olo’s Class A common stock. The cash portion of the consideration was funded by cash on Olo’s balance sheet.
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