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McDonald's to acquire big data firm for United States dollars 300 million

28 March, 2019, 09:58 | Author: Lawrence Cooper
  • Dynamic Yield's technology will enable McDonald's to offer more personalized service

Think of it this way: You pull up to a McDonald's drive-thru and the digital menu board will offer suggested items (using Dynamic Yield's technology) based on time of day, weather, current restaurant traffic and trending menu items.

The announcement did not give details on pricing, but Techcrunch, citing a source with knowledge of the transaction, said the deal was valued at more than $300 million. With this acquisition, McDonald's builds on its significant technology investments for growth. It is also said to be the fast food chain's biggest acquisition in the past two decades. Self-order kiosks are now available in almost 17,000 restaurants, there are additional digital menu boards set up in more than 21,000 restaurants, and mobile order and pay capabilities are available in over 22,000 restaurants.

Big Mac is probably what McDonald's is most closely associated with. The press release indicates that Dynamic Yield, based in Tel Aviv and in NY, will remain a standalone company and that the company will continue to serve its existing clients and will attract future clients.

With the agreement, McDonald's becomes the sole owner of Dynamic Yield, which is based in NY and Tel Aviv.

McDonald's plans to roll out the technology at its US Drive Thrus this year and then expand its use to other global markets.

Several restaurants reportedly used the AI in 2018, with more than 1,000 set to use it within the next three months, Daniel Henry, McDonald's executive vice president and global chief information officer, in an interview with Wired.

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McDonald's has announced its acquisition of Israeli start up Dynamic Yield, which specializes in machine learning and personalization capabilities.

Dynamic Yield co-founder and CEO Liad Amgon opined that the very motto of the organization was to ensure that customer-centric brands make personalization a core activity.

McDonald's has already been making technological improvements. McDonald's CEO Steve Easterbrook said they have a really straightforward business.

After closing, Dynamic Yield will remain a standalone company and will continue to work with other brands besides McDonald's - but it remains unclear whether McDonald's will exert a monopoly over the technology specifically for the fast-food market.

Dynamic Yield, whose customers include IKEA and URBN, has offices in NY and Tel Aviv.

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