Olo is acquiring software solution platform Wisely for $187 million
Summary
Technology platform Olo announced Thursday that it will be acquiring software solution company, Wisely, for $187 million. Wisely is a customer intelligence platform that specializes in personalizing the restaurant guest experience through consumer data – a crucial tool for operators, especially in the post-pandemic era. Wisely offers several key capabilities that Olo CEO Noah Glass said will be available to Olo customers once the acquisition goes through: front of house tool, Host, which serves as a “mission control for the host stand;” marketing and CRM capabilities like email and test message-based communications; a customer sentiment feature that lets operators see guest feedback from internal and external sources like Google and Yelp; and a consumer data platform, which lets operators pull all of these elements together and create customer profiles. But don’t rule out more M&A activity from Olo to come: “The IPO process gave us the optionality of additional capital on our balance sheet and another currency that we can use to do acquisitions,” Glass said. Restaurant365, Toast, SpotOn, and Reef all announced technology solutions company acquisitions over the past several months.
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