McDonald’s to buy Israeli digital startup Dynamic Yield
The Company will pay more than $300M, according to WSJ
McDonald's agrees to acquire Israeli personalization and decision logic technology company Dynamic Yield, which MCD says will make it one of the first companies to integrate decision technology into the customer point of sale at a brick and mortar location. MCD does not provide financial details but WSJ reports the company will pay more than $300M for the closely held firm in its first acquisition in years and its biggest deal in two decades.
“Technology is a critical element of our Velocity Growth Plan, enhancing the experience for our customers by providing greater convenience on their terms”, said Steve Easterbrook, President and Chief Executive Officer, McDonald’s Corporation. “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 personalised experiences for our customers”.
Liad Agmon, co-founder and CEO of Dynamic Yield, added: “We started Dynamic Yield seven years ago with the premise that customer-centric brands must make personalization a core activity. 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”.
Dynamic Yield consults with retailers to provide personalized digital promotions to consumers using streams of customer data, and its customers include IKEA, Forever 21 and Fendi.
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