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McDonald's Corp. has just announced its largest acquisition in two decades.
The hamburger giant has announced that it has purchased an Israeli start-up, Dynamic Yield Ltd., a leader in personalization technology and decision logic, with the goal of boosting sales.
| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| MCD | MCDONALD & # 39; S CORP. | 188.61 | 2.89 | + 1.56% |
The deal would have cost the fast food giant more than $ 300 million, people familiar with the case told FOX Business.
The last notable acquisition for the Chicago-based company was the acquisition of the Boston Market restaurant chain for $ 173.5 million in 1999, later divested to Sun Capital Partners. In 1998, she also took a significant stake in Chipotle Mexican Grill, but sold it in 2006.
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In a press release, McDonald's announced that it would use Dynamic Yield technology to customize its control windows by changing in real time based on time, weather, trend menu items and current traffic. restaurants.
Technology can also instantly suggest and display additional items based on customer orders.
McDonald's has announced plans to roll out this technology this year in the US after testing it in several markets last year. International expansion projects will occur at a later date.
In addition to its control system, the company's automated kiosks and mobile applications will also be digitally enhanced.
McDonald's CEO Steve Easterbrook said technology is a "critical element" of his growth plan and his vision of creating a more personalized experience for his customers. Over the years, McDonald's has aggressively advanced technologies in its restaurants by installing more automated kiosks, developing mobile apps, and partnering with UberEats to develop the distribution.
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Under the terms of the agreement, McDonald's will become the sole owner of Dynamic Yield, but the company will remain an autonomous unit whose employees will continue to operate from offices around the world. It will also continue to serve its customers, including other major retailers such as IKEA, Forever 21 and Fendi, and acquire new ones.
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