Olo Inc. will acquire Wisely Inc., a leading customer intelligence and engagement platform that enables restaurant brands to personalize the guest experience to maximize customer lifetime value.
All About the Data
The deal is expected to empower restaurant brands to derive actionable insights from their data more readily in order to better understand their guests. This critical understanding enhances overall service, ultimately driving customer lifetime value with more efficient acquisition, retention, frequency, and spend initiatives. Through the acquisition, Olo will broaden its platform to include Wisely’s suite of customer intelligence products, giving each unique restaurant brand the power to curate their optimal technology stack from an expanded portfolio of solutions in conjunction with solutions from Olo’s open ecosystem of over one hundred technology partners.
Olo will acquire Wisely for approximately $187 million, comprising of $77 million in cash and $110 million in Olo’s Class A common stock. The transaction is expected to close in Q4 and is subject to the satisfaction of customary closing conditions.
Wisely’s software solutions include an all-in-one Customer Relationship Management (CRM) with marketing automation including email and SMS; Host, a table management, waitlist, and reservations solution; a guest sentiment tracker with aggregated and annotated guest reviews and feedback; and the first-ever Customer Data Platform (CDP) purpose-built for restaurants.
The acquisition of Wisely is expected to provide a number of benefits to restaurants, their guests, and Olo, including:
- Wisely’s complementary solutions streamline restaurants’ digital transformation efforts, which position brands to improve overall service, deepen relationships with its guests, and enhance its top and bottom line performance
- Wisely accelerates Olo’s data ambitions and will allow brands to create a unified guest profile from disparate data sources, providing guests a better, more personalized ordering experience, which is designed to help restaurants win the competitive battle for digital dollars
[ Wisely's Data Science Pioneer Influences Business Strategies]
- Wisely expands Olo’s platform capabilities, creating new offerings that will, for the first time, unlock Olo’s ability to directly serve brands’ marketing efforts
- Wisely's differentiated portfolio creates an opportunity to introduce offerings to and drive incremental value for Olo’s approximately 74,000 restaurant locations
Under the terms of the definitive agreement entered into on October 21, Olo will acquire Wisely for approximately $187 million, comprising of $77 million in cash and $110 million in Olo’s Class A common stock. The transaction is expected to close in Q4 and is subject to the satisfaction of customary closing conditions.