(March 27, 2019 / JNS) McDonald’s is set to acquire Israeli digital startup Dynamic Yield in order to improve the fast-food chain’s customer experience, specifically at drive-thrus.
Although the specific terms were not officially disclosed, The Wall Street Journal reported, citing sources familiar with the deal, that the agreement is worth $300 million.
The technology, according to the McDonald’s company, will “provide an even more personalized customer experience by varying outdoor digital Drive Thru menu displays to show food based on time of day, weather, current restaurant traffic and trending menu items. The decision technology can also instantly suggest and display additional items to a customer’s order based on their current selections.”
“Technology is a critical element of our Velocity Growth Plan, enhancing the experience for our customers by providing greater convenience on their terms,” said McDonald’s president and CEO Steve Easterbrook. “With this acquisition, we’re expanding both our ability to increase the role technology and data will play in our future, and the speed with which we’ll be able to implement our vision of creating more personalized experiences for our customers.”
The company announced it will start rolling out the Israeli technology at restaurants in the United States this year, followed by expanding to its franchises abroad.
“We started Dynamic Yield seven years ago with the premise that customer-centric brands must make personalization a core activity,” said its CEO, Liad Agmon. “We’re thrilled to be joining an iconic global brand such as McDonald’s and are excited to innovate in ways that have a real impact on people’s daily lives.”
The acquisition is McDonald’s largest since buying fast-casual restaurant chain Boston Market two decades ago.
There are 180 standard McDonald’s locations in Israel with more than 50 of them kosher eateries. The only kosher McDonald’s outside of Israel is in Buenos Aires.