In a positive move, McDonald’s announced on Monday that it will acquire Dynamic Yield Ltd., one of the leading names in personalization and decision logic technology. The news was made public by the company in a press release.
As per the release, with this latest acquisition of Dynamic Yield, which is based in Tel Aviv and New York, McDonald’s will build on its significant technology investments for growth. The announcement does not say anything about the price, but a source with knowledge of the deal said to TechCrunch that it’s more than $300 million.
Dynamic Yield works with brands across a number of verticals such as e-commerce, travel, finance and media to create what’s been described as an Amazon-style personalized online experience. This latest move will make McDonald’s one of the first companies to integrate decision technology into the customer point of sale at a brick and mortar location. This technology was tested by the company in several U.S. restaurants in 2018.
The company is also planning to use this technology at all digital customer experience touchpoints such as self-order kiosks and McDonald’s Global Mobile App.
Speaking about the acquisition, Steve Easterbrook, President and Chief Executive Officer, McDonald’s Corporation said, “Technology is a critical element of our Velocity Growth Plan, enhancing the experience for our customers by providing greater convenience on their terms.”
Echoing similar sentiments, co-founder and CEO of Dynamic Yield, Liad Amgon said, “We started Dynamic Yield seven years ago with the premise that customer-centric brands must make personalize a core activity. We’re thrilled to be joining an iconic global brand like McDonald’s and are excited to innovate in ways that have a real impact on people’s daily lives.”
McDonald’s recent foray into the world of technology which includes the development of McDonald’s Global Mobile App, Mobile Order and Pay, and outdoor digital menu boards has transformed the whole digital experience for customers in and around the restaurants.