The US fast food giant said it is purchasing close to 13.8 million shares in Plexure at an issue price of NZ$0.3905, at a 15 per cent premium. This implies a price tag of nearly NZ$5.4 million, or $3.6 million.
Plexure is an existing vendor for McDonald’s, powering a version of its global mobile app in 48 countries outside the US.
“Across all of our markets, we’re using technology to elevate and transform the McDonald’s customer experience,” said McDonald’s president and CEO Steve Easterbrook.“Our mobile apps play a key role in our digital acceleration, allowing customers to interact with us on their terms in a personal, customized way.”
Added Craig Herbison, Chief Executive Officer, Plexure: “This investment will further our efforts to reach more people with our technology…..and execute our growth plans for our company.”
The transaction marks McDonald’s first-ever investment in a mobile app vendor as it looks to build on its tech-heavy strategy with digital investments. However, it’s the second deal to be clinched in the technology space in less than a month since McDonald’s acquired personalized data startup Dynamic Yield in March 2019 in a deal estimated to be worth around $300 million.
The capital infused in Plexure will help facilitate its growth plans while giving McDonald’s the access to its technology in the QSR space, including access to greater back-end and front-end features, customer functionality and customer targeting, among others.
Plexure’s technology platform focuses on areas such as mobile ordering and payment, next-generation loyalty programmes, personalised offers, analytics and seamless operations integration.