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In recent years, McDonald's has made several strides to upgrade its restaurants, including the development of the McDonald's mobile app, digital menu boards, and self-ordering kiosks. McDonald's largest acquisition in 20 years will give it technology to personalize the menu offerings customers see. “Technology is a critical element of our velocity growth plan,” Easterbrook said in a statement. Plexure marks yet another way McDonald's is using technology and data analytics to personalize the customer experience. Please select at least one newsletter to subscribe. Sept. 10 (UPI) --McDonald's on Tuesday announced the acquisition of a company that will assist in automating its drive-through process.The fast-food chain agreed to … McDonald's is clearly anticipating a need to modernize its offerings based on the tools available and what the competition is doing. McDonald’s has made its third technology acquisition this year after snapping up a firm whose software will enable greater levels of automation between its drive thrus and kitchens. The first move McDonald's made was to acquire Dynamic Yield -- the $300 million transaction was announced late last month. However, as the company leans more into the usage of big data and predictive analytics, expect it to slowly unify its suite of services so it can more effectively leverage the data it collects at the restaurant level and translate that into a better dining experience. The stock has gained almost 6% this year—about half of the S&P 500’s advance. A menu that suits changing customer preferences and a focus on technology to improve restaurant efficiency are the two key pillars of McDonald’s … McDonald's isn't taking a leap of faith on the technology. McDonald's New Tech is About to Change the Restaurant Industry There's a good reason the brand spent $300 million on its first major acquisition in 20 years. Famed venture capitalist Marc Andreessen commented that "software is eating the world." The world’s biggest restaurant chain is spending more than $300 million on Dynamic Yield Ltd., according to a person familiar with the matter. McDonald’s tested Dynamic Yield’s technology in the U.S. in 2018, and will more widely introduce it this year for drive-thru menus once the deal closes. McDonald’s acquisition set to change drive-through menus McDonald’s has acquired a large tech start-up that will change the look of its menu and drive-through experience. Act local. In the case of McDonald's (NYSE:MCD), software is literally helping customers eat more. According to the The Wall Street Journal, the acquisition is valued at more than $300 million and ranks as the company’s largest acquisition in decades. McDonald’s, eager to leverage its size to gain an advantage in the competitive fast-food market, on Monday said it plans to acquire Dynamic Yield, a personalization and decision logic technology firm based in New York and Tel Aviv. CHICAGO and NEW YORK and TEL AVIV, Israel, March 25, 2019 /PRNewswire/ -- McDonald's Corporation (MCD) and Dynamic Yield Ltd. today announced an agreement by which McDonald's will acquire Dynamic Yield, a leader in personalization and decision logic technology. It has since divested its stake in the burrito chain. To that point, McDonald’s reportedly plans to integrate the technology into all of its other customer touch points, as well, including the self-order kiosks and its popular Global Mobile app. McDonald’s will then roll out the technology to international markets. news.com.au … New York, NY 10017 Upon closing of the acquisition, McDonald’s will begin to roll this technology out in the Drive Thru at restaurants in the United States in 2019 and then expand the use to other top international markets. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The menus will also suggest add-on items to customers. McDonald’s tested this technology in several U.S. restaurants in 2018. McDonald’s has promised to continue to invest in digital technology, although it will not necessarily be in acquisitions. With the agreement, McDonald’s becomes the sole owner of Dynamic Yield, which is based in New York and Tel Aviv. Staying current is easy with Crain's New York news delivered straight to your inbox, free of charge. McDonald's has acquired Dynamic Yield, a company that focuses on personalization and recommendation technology, in a move that the company hopes will accelerate its digital transformation. Once the acquisition is complete, the technology will be rolled out to drive-thru windows and digital kiosks inside stores across the United States. Dynamic Yield’s website says customers have included Urban Outfitters Inc., Ikea and HelloFresh. Dynamic Yield is a "personalization and decision logic technology" company. For only $35, you can get the leading source of business news, anytime & anywhere, for an entire year. THE FAST LANE: Thilina loves driving fast cars, especially in Las Vegas where some of the fastest cars in the world are available to rent. McDonald’s Corp., in its largest acquisition in 20 years, is buying a decision-logic technology company to better personalize menus in its digital … At first glance, Dynamic Yield seems to provide a pretty narrow technology use case, but in fact, it helps influence customer behavior, which can have a profound impact on McDonald's sales and profitability. After all, quick-service restaurant space is even more crowded as newer entrants such as Grubhub and Uber Eats expand their position in the market and give consumers more options. The software sends promotional offers, facilitates mobile ordering, and manages a customer loyalty program, in addition to serving as the basic technology backbone of the mobile app. It has been testing Dynamic Yield in select stores for the past year. McDonald’s believes its acquisition of voice ordering technology company Apprente last month, since completed, will be another big long-term step. At this moment, McDonalds is the one of the world’s leading and most successful food service company with more than $40B sales from 30K franchise in global. McDonald's isn't taking a leap of faith on the technology. Stock Advisor launched in February of 2002. McDonald’s tested the Dynamic Yield platform in a number of U.S. restaurants in 2018, and U.S. locations will be the first to integrate the technology upon closing of the acquisition. McDonald's Doubles Down on Tech With Voice AI Acquisition The Golden Arches will acquire Apprente, a "sound-to-meaning" voice assistant, to speed up its drive-through. He was referring to how technology has made its way into all aspects of the physical world. Luis is the Founder and Managing Partner of LVS Advisory LLC, a registered investment advisor based in New York City that manages investment portfolios for clients. Just two months after McDonald’s spent $300 million to acquire Dynamic Yield, a leader in personalization and decision logic technology, the fast-food giant is making another tech acquisition.. McDonald’s announced September 10 it entered into an agreement with Apprente, an early stage leader in voice-based, conversational technology. What are the long-term implications of the pandemic on women? McDonald’s Corp., in its largest acquisition in 20 years, is buying a decision-logic technology company to better personalize menus in its digital push. It has been testing Dynamic Yield in select stores for the past year. In early September, McDonald's went back for a second helping and acquired communication technology company Apprente. Market data powered by FactSet and Web Financial Group. Cumulative Growth of a $10,000 Investment in Stock Advisor, Recent Acquisitions Could Give McDonald's a Technological Edge @themotleyfool #stocks $MCD, Better Buy: McDonald's vs. BJ's Restaurants, McDonald's Going After Chicken Chains With 3 New Menu Items, Copyright, Trademark and Patent Information. We offer a discounted rate through Student Beans for students with a valid .edu email address. Think global. When he’s not chasing lap times, Thilina also enjoys jet skiing on Lake Michigan. The second move was to establish a strategic partnership with mobile software company Plexure earlier this month. We’re focused on continuous transformation. The fast food restaurant is operated by many types of business venture like franchisee, affiliate or the corporation itself. Image source: McDonald's. McDonald’s Corp. is buying Israeli digital startup Dynamic Yield Ltd., in a bid to improve in-store ordering and online marketing at the burger giant. The company has purchased Apprente, a two-year-old business that specialises in voice-based, conversational technology. Luis Sanchez CFA has been a contributor to the Motley Fool since 2019. McDonald's recently announced that they've agreed to acquire Dynamic Yield for $300 million. (212) 210-0100, Investors pour billions into New York startups, Lawmakers' push for crackdown on facial recognition could land companies in court, Small biz, antitrust and WFH: Tech trends to watch in 2021, Sponsored Content: Northwell tackles women’s health issues during Covid-19 crisis. Plexure is not just a software provider hosting mobile apps -- it's a customer engagement platform that uses digital marketing tools to increase sales. 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