McDonald's Personalizes the Drive-Thru With Biggest Acquisition in Years
Terms of the deal weren't disclosed, but The Wall Street Journal, citing people familiar with the matter, said McDonald's will pay more than $300 million for closely held Dynamic Yield. The deal is the fast-food giant's first acquisition in years and its biggest in two decades, according to the Journal.
McDonald's explained that Dynamic Yield's decision technology will "provide an even more personalized customer experience by varying outdoor digital Drive Thru menu displays to show food based on time of day, weather, current restaurant traffic and trending menu items. The decision technology can also instantly suggest and display additional items to a customer's order based on their current selections."
"Technology is a critical element of our Velocity Growth Plan, enhancing the experience for our customers by providing greater convenience on their terms," said Steve Easterbrook, McDonald's president and CEO. "With this acquisition, we're expanding both our ability to increase the role technology and data will play in our future and the speed with which we'll be able to implement our vision of creating more personalized experiences for our customers."
McDonald's said it will begin to roll out the technology from Dynamic Yield at U.S. restaurants this year and then expand the use to other top international markets.
The company has been on a technology push and has said it plans to spend nearly $1 billion in 2019 to upgrade about 2,000 of its U.S. locations.
McDonald's rose 1% to $187.57 in trading Tuesday.
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