McDonald's Corp., as part of its largest acquisition in 20 years, is buying a logical decision technology company to better customize the menus in its digital push.
The largest chain of restaurants in the world spends more than $ 300 million on Dynamic Yield Ltd., according to someone close to the issue. Thanks to the new technology, McDonald's restaurants can change the display of their electronic menu items based on factors such as weather: more coffee in cold weather and McFlurries in hot weather, for example, and time or regional preferences. . The menus will also offer complementary elements to the customers.
Since coming to the position of Director in 2015, President and CEO Steve Easterbrook has pushed technology – including kiosks for online ordering, digital menus and delivery – to boost sales and marketing. help McDonald's stand out from the competition. Given that McDonald's rarely makes acquisitions, the purchase of Dynamic Yield demonstrates the company's desire to leverage technology to accelerate growth in the highly competitive restaurant industry.
"Technology is an essential part of our plan for rapid growth," Easterbrook said in a statement. He added that McDonald's was expanding the role that technology would play in McDonald's future and the speed with which we will be able to implement our vision of creating more personalized experiences for our customers. ".
McDonald's has tested the technology of Dynamic Yield in the United States in 2018 and will introduce it more widely this year into the driving menus when the deal is concluded. The company also plans to expand its capacity to foreign markets. This is the largest transaction for the Chicago chain for about 20 years, when she became an investor in Chipotle Mexican Grill Inc. She has since divested her stake in the burrito chain.
Through this agreement, McDonald's becomes the sole owner of Dynamic Yield, based in New York and Tel Aviv. The hamburger chain, which has 38,000 stores, will continue to invest in Dynamic Yield, which will remain a standalone company. The Dynamic Yield website indicates that customers included Urban Outfitters Inc., Ikea and HelloFresh.