McDonald’s, the world’s biggest restaurant chain, will acquire Dynamic Yield Ltd., a decision-logistic company, the Economic Times reported on Wednesday.
The company intends to invest over $300 million in the new acquisition, sources familiar to the matter said. The move by McDonald’s will help them to better personalize menus in its digital push.
The new acquisition will allow McDonald’s to modify its electronic menu board’s display of items, depending on various factors such as weather conditions, etc. For example – more coffee being served on cold days and McFlurries on hot days; depending on the time of day or regional preferences. The customers will also have the option to choose from the add-on items menu.
Steve Easterbrook, the current CEO of McDonald’s which joined the company in 2015 has emphasized more on technology— including self-order kiosks, digital menu boards and delivery. Mr Easterbrook also helped the company to stand out among competitors and boost its sales.
The acquisition of Dynamic Yield Ltd. indicates the company’s urge to embrace technology to boost growth in the restaurant chain space.
On Tuesday, the share price of McDonald’s rose by 1.7 percent; highest in two months. The stock also gained upto 6 percent this year.
The company has already piloted the technology of Dynamic Yield last year in the US, and once the acquisition is over, it will be rolled out for drive-thru menus. McDonald’s also intends to tap the markets abroad.