Mastercard and McDonald’s announced an agreement for Mastercard to acquire McDonald’s state-of-the art personalization platform and decision engine company, Dynamic Yield.
Dynamic Yield’s technology is a natural addition to Mastercard’s existing suite of services that help brands deliver more effective and trusted customer experiences across channels, according to the statement.
”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. 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,” said Raj Seshadri, President of Data & Services, Mastercard.
With Dynamic Yield’s technology, Mastercard will be able to help its customers and partners meet consumers’ growing demand for a more personalized experience, no matter where they shop or do business. The creation of a unified consumer engagement and loyalty hub will further extend the value of Mastercard’s network to deliver digital services for payments and beyond, the statement said.
McDonald’s purchased Dynamic Yield in 2019, becoming one of the first brands to integrate decision technology into its restaurants. Under McDonald’s ownership, Dynamic Yield doubled its revenue and expanded its customer base across verticals. To date, Dynamic Yield’s technology has been deployed to McDonald’s drive-thrus and ordering kiosks in several markets around the world.
“We’re delighted to continue working with McDonald’s, a longstanding client and proven innovator in this space,” Seshadri continued.
“Synchrony works hard every day to deliver simple, tailored and relevant interactions to enhance the consumer experience,” said Jeff Brousseau, Senior Vice President, Performance Marketing, Synchrony. “With Dynamic Yield, we’ve been able to deliver contextual, personalized experiences across the consumer journey. Combining this with the power of Mastercard’s other digital services unlocks additional capabilities to further enrich consumer engagement.”
The transaction is anticipated to close in the first half of 2022. Upon close, current chief technology officer Ori Bauer will take the helm as CEO. Liad Agmon, current CEO, will stay on in an advisory capacity.
The transaction is subject to customary closing conditions. Terms of the agreement were not disclosed.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.