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McDonald's technological makeover has just been a little more gigantic.
The Golden Arches revealed Tuesday their largest acquisition in more than 20 years, with the acquisition of the private technology platform Dynamic Yield. McDonald's did not reveal a purchase price, but a source close to the record said that McDonald's had spent more than $ 300 million on Dynamic Yield.
Dynamic Yield will allow McDonald's to customize its popular driving service to allow it to sell additional items and, by extension, earn more money per visitor. Think of it this way: you pbad a McDonald's drive-in and the digital menu board offers suggested elements (using Dynamic Yield technology) according to the time, the weather, the current attendance of the restaurant. and trend menu items.
While the restaurant industry is trying to find the best price for digital investments and higher hourly wages, buying a technology platform like Dynamic Yield makes sense. And for an alleged $ 300 million, it looks like a flight before an IPO of Uber where Uber Eats could fetch a disproportionate valuation.
The company plans to first deploy the technology on its US service and then broadcast it internationally.
McDonald's cut a big check to buy the Dynamic Yield technology platform. The technology provider will allow McDonald's to offer personalized items on its digital menu boards.
McDonald's CEO Steve Easterbrook sold the acquisition as a way to look like the Web experiences offered by Amazon, Best Buy or Walmart.
"When we think about the last four years, our owners / operators, our development licensees and the company, we have all invested in the technology needed to make the overall customer experience more relevant, easier, more enjoyable , in the ultimate goal. for a much more personalized experience, "said Easterbrook in an internal video for employees and franchisees obtained by Yahoo Finance.
"When we access websites such as Amazon, Best Buy, or Walmart.com, when you hover your cursor over an item and click on it in your cart, it automatically suggests you to". other elements badociated with this element. This technology can work with the smart menu boards we have, "added Easterbrook.
He also believes that technology will help reduce congestion during rush hours, which is still a problem for McDonald's.
This acquisition is only Easterbrook's latest technology initiative. McDonald's now has personal kiosks in 17,000 of its 36,000 restaurants around the world. There are digital menu boards in 22,000 restaurants. The company's revised mobile app has mobile ordering and payment features (at Starbucks).
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