Mastercard will acquire artificial intelligence company Dynamic Yield from McDonald’s which had bought the personalization platform and decision engine company in 2019.
Terms of the agreement were not disclosed but the transaction is anticipated to close in the first half of 2022.
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.
McDonald’s, a long-standing payment and service customer of Mastercard, will continue to use Dynamic Yield services.
Dynamic Yield’s software-as-a-service (SaaS) platform uses advanced AI and other technologies to support 400+ brands across the retail, financial services, travel and restaurant industries, among others.
“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.
In October McDonald’s had announced it would sell its McD Tech Labs to IBM. McD Tech Labs was created to advance employee and customer facing innovations following McDonald’s 2019 acquisition of Apprente.