McDonalds announces an agreement to acquire the personalization company Dynamic Yield.
The announcement does not include a prize, but one source who knew about the deal said it had more than $ 300 million. This is the largest acquisition of the fast food chain in 20 years.
Dynamic Yield works with ecommerce, travel, finance, and media brands to create what is referred to as a personalized Amazon-style online experience.
McDonald's said that this technology is used to create a Drive-Thru menu that can be adapted to the weather, current restaurant traffic, and trend menu items. Once you have started ordering, the display may also recommend other items based on the products you have selected.
The company claimed to have tested this in several US locations in 201
"Technology is a key component of our Velocity growth plan, which offers customers greater convenience by providing more convenience to their customers," said Steve Easterbrook, President and CEO of McDonald's, in a statement. "With this acquisition, we are expanding our ability to increase the role of technology and data in our future, as well as the speed at which we can realize our vision of creating personalized experiences for our customers."  The plan referred to by Easterbrook was first announced in March 2017, focusing on technologies such as McDonald's mobile app and the stores of Experience of the Future.
At the same time, McDonald's stated that Dynamic Yield will continue to operate A standalone company serving existing and future customers and continuing to invest in core personalization technology.
According to Crunchbase, Dynamic Yield raised a total of $ 83.3 million from investors, including Innovation Endeavors, Bessemer Venture Partners and Marker Capital, as well as strategic financiers such as Naver (which owns the Line and Snow messaging apps), Baidu, the New York Times and Deutsche Telekom.
"We started D ynamic Yield seven years ago with the premise that customer-focused brands need to make personalization a core activity," said Lior Agmon, co-founder and CEO of Dynamic Yield. "We are excited to join an iconic global brand like McDonalds and look forward to innovations that affect people's daily lives."