McDonald’s announced plans to acquire a tech company — its largest deal in 20 years — as This kind of continues to push its U.S. locations into the digital age.
The fast food giant said Monday This kind of has agreed to buy Dynamic Yield, which specializes in personalization along with decision logic technology. Dynamic Yield’s technology will allow McDonald’s digital drive-thru menus to change based on different factors, such as the weather along with current restaurant traffic.
The deal is actually valued at more than $300 million, producing This kind of the largest McDonald’s deal in two decades, people familiar with the matter said.
The acquisition is actually McDonald’s latest move to incorporate more technology in its brick-along with-mortar locations. In 2019 alone, the company is actually planning to spend nearly $1 billion to upgrade about 2,000 U.S. locations.Those renovations, like the addition of self-serve kiosks along with digital menu boards, are meant to boost sales by increasing convenience for customers, although some franchisees have complained in which the expensive project is actually hitting short-term sales without any payoff. additional investments, like in McDonald’s mobile app, have helped the company gain access to more consumer data to fine tune its business.
The company said in which This kind of already tested the drive thru technology in several of its U.S. restaurants last year. This kind of plans to roll This kind of out to additional U.S. locations This kind of year, with international expansion on the horizon.
“With This kind of acquisition, we’re expanding both our ability to improve the role technology along with data will play in our future along with the speed with which we’ll be able to implement our vision of creating more personalized experiences for our customers,” CEO Steve Easterbrook said in a statement.
When the deal closes, Dynamic Yield will remain a stand-alone company along with continue to work with clients additional than its sole owner.