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McDonald’s revealed on Tuesday, Dec. 21, that it will be unloading Dynamic Yield, a tech company it acquired two years ago. The fast-food chain shared the buyer for the property is the American financial services firm, Mastercard.
The financial details of the deal between McDonald’s and Mastercard were not disclosed to the public. The former purchased Dynamic Yield in 2019 in an effort to personalize its drive-thru experience as the company specializes in customization and decision logic tech.
It was reported that this was a rare acquisition for McDonald’s, and in fact, it was the company’s biggest deal in two decades. Insiders who are reportedly familiar with the terms told CNBC the deal was valued at over $300 million.
At any rate, Dynamic Yield’s technology is currently being used in the restaurant chain’s drive-thrus and automated ordering kiosks in some locations worldwide. McDonald’s deal with Mastercard will also be very beneficial to Dynamic Yield because it will be able to provide its technology to other third-party businesses.
While Dynamic Yield will be owned by Mastercard soon, McDonald’s said it will still continue to work with both companies to keep improving technology in its stores. This means that the burger joint will still be integrating Dynamic Yield’s applications to further enhance customer experience.
It was said that deal is expected to close within the first half of 2022. The news sent McDonald’s shares soaring by almost one percent on Tuesday morning while Mastercard’s stock also went up to almost two percent.
”The notion of going into a store or opening a webpage to find an experience perfectly tailored to you is no longer farfetched. It’s a reality that more brands are deploying and more consumers expect,” Mastercard president of data and services, Raj Seshadri, said in a press release. “With Dynamic Yield’s expertise and our scale and relationships, we’ll be able to bring the connections between the end consumer and our customers to new heights.”
Seshadri went on to say that their team is delighted to continue working with the fast-food chain that is one of their longstanding clients. Meanwhile, the acquisition deal between McDonald’s and Mastercard is still subject to the usual closing conditions.
