McDonald’s is planning to announce an agreement to acquire Dynamic Yield which is a personalization company and as of now, there’s no disclosure of price, but as per the sources, the deal will be of more than $300 million. This is the largest acquisition in 20 years of the fast-food chain.
Dynamic Yield mainly works with brands across travel, e-commerce, media, and finance to create an Amazon-style personalized online experience. According to McDonald’s, it will bring this technology to make a drive-thru menu that can be personalized to things like the current restaurant traffic, weather and menu items that are trending. Once the user starts ordering, the display will also suggest additional items based on the items that you’ve ordered. McDonald’s stated that it has tested this new technology in several locations of the United States in 2018. The company plans to start rolling out this new feature across the U.S. in 2019, and thereafter the company plans to move it to the international markets. The company is also working to incorporate this technology into other digital products, like the McDonald’s mobile app and self-serve kiosks.
McDonald’s president and CEO Steve Easterbrook stated that technology is a key element of the company’s Velocity Growth Plan which focuses on improving the experience of the customers by giving them better convenience on their terms. With this acquirement, the company is increasing both its capability to grow the role technology and data will play a major role in the company’s future and the speed at which McDonald’s will be able to execute the vision of making more personalized experiences for the customers. Easterbrook is referring to the plan which was announced back in March 2017 and it focuses on technology like the McDonald’s mobile app and the company’s future stores experience. The company also pointed out that Dynamic Yield will stay in operation as a standalone company to serve both existing and future clients.