March 28, 2019
McDonald’s has entered into an agreement to acquire decision-logic technology provider Dynamic Yield for $300 million in an attempt to enhance customer experience and provide better-personalized menus using digital technology. This acquisition is an attempt to use personalized digital technology for better customer experience. It would enable the fast-food chain to customise the electronic menu boards‘ display of items, depending upon various factors such as weather, regional preferences and the time of day, mentioned the daily.
The fast-food giant is spending more than $300 million on Dynamic Yield. Steve Easterbrook, Chief Executive Officer, McDonald’s Corp, of the company in 2015, has emphasised on digital technology and has included self-order kiosks, digital menus boards and delivery services to boost the sales of the company and to help it stand out among its competitors. This is the largest acquisition of the fast-food company and showcases the company’s desires to use technology for speed growth in the ever-competitive restaurant industry, as per the daily.
Easterbrook said, “Technology is a critical element of our velocity growth plan and the speed with which we’ll be able to implement our vision of creating more personalised experiences for our customers’’. McDonald’s shares rose as much as 1.7% to $188.88 on March 26, which is the highest in two months, according to the daily.