Olo exploring potential sale, could appeal to Toast, says BTIG

Bloomberg reports that Olo (OLO) is exploring a potential sale of its business, and could appeal to a company like Toast (TOST) or Oracle’s (ORCL) Micros, BTIG tells investors in a research note. The firm, which has a Neutral rating on Olo and says the stock price has been range-bound between $4-$8 the last two years, adds that it “can understand why” Olo’s board is interested in exploring alternatives, and that it has an attractive customer base of around 86,000 enterprise restaurant clients, but new-location growth is now challenged in its core enterprise segment. BTIG also suggests NCR Voyix (VYX) or Par Technology (PAR) as potential suitors for Olo.