Mastercard (Purchase, NY) has acquired Dynamic Yield Ltd., an Israel-based AI startup, from McDonald’s (Chicago).
Terms of the deal were not disclosed. When McDonald’s acquired Dynamic Yield in March of 2019, it spent $300 million on the personalization and decision-logic company.
Dynamic Yield’s technology is utilized in McDonald’s drive-thrus in several markets, enabling outdoor menus to display recommendations based on factors like time of day, trending menu items and the customer’s current selections.
The software-as-a-service (SaaS) platform uses advanced AI and other technologies to support 400-plus brands across the retail, financial services, travel and restaurant industries, a release from Mastercard explained.
The acquisition is expected to close in the first half of 2022. Upon the deal’s closing, Dynamic Yield’s chief technology officer, Ori Bauer, will take the helm as CEO. The current CEO, Liad Agmon, will remain with the company in an advisory capacity.