OLO News & Events

In a regulatory filing, Olo noted that as previously disclosed, on July 3, the company entered into an Agreement and Plan of Merger with Project Hospitality Parent, a Delaware limited liability company, and Project Hospitality Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Parent, pursuant to which Merger Sub will merge with and into the company, with the company surviving the merger as a wholly-owned subsidiary of Parent. The completion of the merger is conditioned upon, among other things, the expiration or termination of the required waiting period applicable to the consummation of the merger under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. On August 15, the U.S. Federal Trade Commission granted early termination of the HSR Waiting Period, the company disclosed. The completion of the merger remains subject to the satisfaction or waiver of other customary closing conditions specified in the merger agreement, including the adoption of the merger agreement by the company's stockholders. As previously disclosed, the special stockholder meeting to consider adoption of the merger agreement has been scheduled to be held virtually on September 9, at 9:00 a.m. Eastern Time.

BTIG says the three big takeaways from Par Technology's (PAR) Q2 conference is: The company is not bidding for Olo (OLO), its organic growth for the second half of 2025 was verbally guided to mid-teens when it has historically been 20%-plus, management being emphatic about the pipeline to drive long-term growth. If Par's organic growth out outlook was better, news of it not bidding for Olo would have helped the shares trade higher, the analyst tells investors in a research note. BTIG keeps a Neutral rating on Par Technology shares, which are trading down 14% to $49.95.

Par Technology said on its Q2 earnings conference call: "While there's probably incredible synergies between our companies, we feel great where we are and our ability to take share."