The restaurant also rarely acquires companies, according to The Wall Street Journal, but this acquisition is of strategic importance and falls within the company's Velocity Growth Plan, which is all about improving the customer experience through better convenience. This is the largest deal for the Chicago-based chain in about 20 years, when it became an investor in Chipotle Mexican Grill Inc.
McDonald's CEO Steve Easterbrook told Wired that the company has big plans for big data and smart tech, and could potentially use wireless beacons to detect your smartphone-or even cameras to scan your car's license plate-in order to make more personalized menu suggestions.
FBN's Lauren Simonetti on McDonald's decision to buy Israeli-based Dynamic Yield.
The deal is the biggest that McDonald's will strike with the Tel-Aviv based start-up which provides retailers with algorithmically driven "decision logic" technology. Marketers, product managers, and engineers use Dynamic Yield daily for launching new personalization campaigns, running server-side and client-side A/B tests, leveraging machine-learning for product and content recommendations, and employing algorithms for smartly triggered email and push notifications. The company began testing the technology past year, and will bring it to more locations throughout 2019. The company also will begin integrating personalization technology into other digital touch points, including self-order kiosks and the McDonald's Global Mobile App.More news: Morrowind is free today to celebrate The Elder Scrolls' 25th anniversary
The technology will be rolled out at McDonald's Drive-thru restaurants in the United States in 2019 and will be swiftly expanded into top global markets following. Once the order is placed, the display would also recommend additional items based on the customer's preferences.
Self-service kiosks at a McDonald's restaurant at Ontario and Clark streets in Chicago, Ill. on Wednesday, Aug. 8, 2018.
After closing, Dynamic Yield will remain a standalone company and will continue to work with other brands besides McDonald's - but it remains unclear whether McDonald's will exert a monopoly over the technology specifically for the fast-food market.
Founded in 2011, Dynamic Yield specializes in "personalization" software, with customers including Ikea, Urban Outfitters, AutoNation and American Greetings.