McDonald's technological makeover was a little more supersized.
On Tuesday, The Golden Arches unveiled its biggest acquisition for more than 20 years, and acquired private knowledge platform Dynamic Yield. McDonalds did not reveal a purchase price, but a source near the case said McDonald's plunked reached over $ 300 million for Dynamic Yield.
Dynamic Yield will allow McDonalds to customize its popular drive thrus in a bid to sell extra goods and, in addition, earn more money per visitor. Think of it this way: You go up to McDonald's drive-thru, and the digital menu tray will offer suggested items (using Dynamic Yield technology) based on time of day, weather, current restaurant traffic and trending menu items.
With the restaurant industry trying to unearth every penny it could pay for digital investment and higher hourly wages, McDonald's purchase of a technical platform like Dynamic Yield makes sense. And for an alleged $ 300 million, it seems like a steal in front of a Uber IPO where Uber Eats could gain an extreme appreciation.
The company plans to roll out the technology of its US drive thrus first and then take it internationally.
McDonald's CEO Steve Easterbrook sold the acquisition as a means to be compared to the web experiences offered by Amazon, Best Buy or Walmart.
"When we reflect on the past four years, our owner / operators, our development licenses, and the company, have all invested in the necessary technology to make the overall customer experience more relevant, easier, and more fun, with the ultimate goal of a much more personalized experience, Easterbrook said in an internal video to employees and franchisees achieved by Yahoo Finance.
"When we enter websites such as Amazon or Best Buy, or Walmart.com, which you place your cursor over an item and click And it comes into your shopping cart, it automatically suggests other items related to it. This technology can work with the intelligent menu boards we have, "Easterbrook pointed out.
He also believes that technology will help ease drive overload through peak times, which is always a problem for McDonald's.  The acquisition only marks the latest tech initiative presented by Easterbrook, which now has self-order kiosks of 17,000 out of its 36,000 plus restaurants globally, with digital menu charts of 22,000 restaurants, and its revised mobile app has mobile order and payment options (a la Starbucks).
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