Fast-food giant McDonald's has announced that it is exploring options for selling part of the Israeli digital customer experience services startup Dynamic Yield, which it acquired for $300 million in 2019.
Dynamic Yield assists retailers in adapting digital offerings to customers on the basis of the personal data of buyers. McDonald's acquired the company in order to promote take-away sales at Drive-In outlets and digitasl kiosks in its restaurants. McDonald's has kept Dynamic Yield as an independent company, so that it continues to work with other leading international retailers.
Dynamic Yield CEO Liad Agmon said, "The potential sale of the non-McDonald's part of our business has been discussed from the outset and now feels like the right time to explore that possibility."
The hamburger chain said it was considering a sale of only the part of Dynamic Yield that works with other companies with no timeline set for the deal.
Dynamic Yield currently has 260 employees compared with 200 when it was acquired by McDonald's two years ago.
Agmon added, "Today our system not only helps adapt experiences for McDonald's customers in collecting services and kiosks but also helps over 300 other global brands. Dynamic Yield and McDonald's have strong relations and we are working together to find the way forward for both businesses."
Published by Globes, Israel business news - en.globes.co.il - on February 28, 2021
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