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- Climb's M&A Weekly: Thoma Bravo, Samsung, and Hg all feature
Climb's M&A Weekly: Thoma Bravo, Samsung, and Hg all feature
Thoma Bravo buys Olo and Samsung acquires Xealth
Climb Advisors Weekly
July 13, 2025
Welcome back to the Climb Advisors weekly newsletter with five deals from across the B2B tech landscape.
Climb Advisors focuses on sell-side advisory for B2B Software and services companies generating $5m-$15m in revenue. We also advise on credit solutions for companies of the same profile & in select cases engage in retained buy-side processes for quality buyers. We love to talk markets and make introductions - please don’t hesitate to reach out if you’re a founder or investor looking to transact.
Thoma Bravo acquires Olo, a SaaS restaurant platform
Overview: Thoma Bravo acquires Olo, a SaaS platform for restaurant ordering and delivery, in an all-cash deal valued at $2 billion. Olo's platform integrates ordering, delivery, and customer engagement tools that help restaurants streamline their digital operations and increase revenue. Olo shareholders will receive $10.25 per share, representing ~65% premium to the company's closing share price of $6.20 as of April 30, 2025. Read more here.
Climb Comment: This deal is a strategic move by Thoma Bravo to capitalize on the digitization of the restaurant industry. Thoma Bravo paid ~6x 2025E sales for Olo and will look to scale Olo’s offerings in the take private deal. Olo has dramatically underperformed the market over the past half decade likely due to how competitive the restaurant software industry is. End-to-end solutions are what clients are looking for today and Olo’s competitors like Toast offer an end-to-end solution with a POS. Olo partners with POS providers and integrates its solutions on their platform. It would make sense for Thoma Bravo to use its resources to try and create a comprehensive platform with Olo in the fold either through further acquisitions or creating more solutions on Olo’s platform.
Summit Partners makes minority investment in Quorso Global
Overview: Summit Partners makes a minority growth equity investment in Quorso Global, a provider of intelligent operations software for multi-store retailers. The funding will support Quorso's international expansion, product innovation, and operational scaling. Quorso's platform turns overwhelming store data into actionable insights for retail leaders. Read more here.
Climb Comment: The retail technology space has seen significant investment as retailers seek to optimize their operations through data-driven insights. Quorso's intelligent management platform addresses a critical need for multi-store retailers with the immense amount of data across all of their locations. The company's software helps retailers improve operational efficiency, reduce costs, and enhance customer experiences.
GTCR makes majority investment in Clear Capital
Overview: GTCR acquires a majority stake in Clear Capital, a provider of real estate analytics, valuation and property data analytics services. Clear Capital's platform delivers automated valuation models, property condition reports, and market analytics to mortgage lenders, servicers, and real estate professionals. GTCR’s investment represents Clear Capital’s first outside investment. Read more here.
Climb Comment: This investment will help Clear Capital expand its technology capabilities and grow its market share in the real estate technology sector. Scott Happ, the founder of Mortgagebot, has also joined the board of Clear Capital and brings over 40 years of real estate and mortgage technology experience. Clear Capital’s most notable offering, CubiCasa, a digital floor planning solution, is used in ~30% of all new real estate listings. GTCR’s investment will look to grow CubiCasa and pursue some inorganic growth opportunities also. GTCR's investment comes at a time when mortgage lenders and real estate professionals are seeking more efficient ways to assess property values and market conditions.
Hg acquires a majority stake in A-LIGN, from Warburg Pincus
Overview: Hg acquires a majority stake in A-LIGN, a cybersecurity and compliance services provider, from Warburg Pincus. A-LIGN specializes in cybersecurity compliance audits and risk management services for organizations across various industries. These audits allow organizations to assure their customers their data is secure. The transaction will help A-LIGN expand its service offerings and geographic reach while investing in new technologies. Read more here.
Climb Comment: AI threats make cybersecurity more important than ever. The cybersecurity services market continues to evolve as organizations face more sophisticated AI cyber threats and complex regulatory requirements. A-LIGN has had a remarkable 50% compound annual growth rate over the past 15 years. While the financial terms of the deal were not disclosed, it is believed the deal puts A-LIGN’s valuation at over $1 billion. The backing will enable A-LIGN to accelerate its expansion plans and hopefully continue A-LIGN’s stellar growth.
Samsung acquires digital health firm, Xealth
Overview: Samsung acquires Xealth, a digital health platform that enables healthcare providers to integrate digital health tools into their workflows. Xealth's platform allows clinicians to prescribe and monitor digital therapeutics, remote monitoring devices, and patient engagement tools directly from their electronic health records. Read more here.
Climb Comment: Xealth was spun out of Providence in 2017 and is now in over 500 US hospitals. Samsung has a digital health presence as its Galaxy Watch can detect irregular heart beat and sleep apnea. Samsung will look to integrate Xealth’s capabilities into the Galaxy Watch. Samsung's acquisition reflects the company's commitment to expanding its healthcare offerings as users are increasingly looking for health data from their smart devices. The rise of companies like Whoop and Oura Ring has forced Apple and Samsung to increase their health offerings on their phones and wearables. The deal positions Samsung to capitalize on the growing adoption of digital health solutions across healthcare systems.
Article of the week
The article of the week this week is an interview about venture capital and the defense sector.
Thanks for following along & hope you found something useful or interesting. Please don’t hesitate to reach out if you’re considering a sale this year - we’re always glad to chat & share perspective.
All the best,
Nick