Investing.com -- Restaurant software provider, Olo Inc., is reportedly considering a potential sale following interest from potential buyers, Bloomberg reported, citing people familiar with the matter. The New York-based firm, whose backers include restaurateur Danny Meyer and The Raine Group, is said to be working with a financial advisor to assess the level of interest from possible purchasers.
Shares of Olo gained 10% in after-hours trading Wednesday following the report. The stock is down 19% year-to-date as of the closing bell.
Industry players such as Toast (NYSE:TOST) Inc., a direct competitor, and Oracle Corp (NYSE:ORCL)., a technology solution provider, could be potential buyers. Oracle Corp. has a history of investing in this sector, as evidenced by its 2014 acquisition of restaurant and retail technology provider Micros Systems Inc. for $5.3 billion.
Olo’s deliberations are still in the early stages, and the company could decide against a sale, the report added.
Related articles
Olo mulls potential sale amid takeover interest - Bloomberg
NVIDIA CEO Jensen Huang discusses U.S. chip investment at White House event
NVIDIA stock gains as Meta boosts AI capex... again
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。