Restaurant companies have been in something of an arms race in recent years to add new technology to their locations.
But more recently, that race has taken on new dimensions as restaurants have started investing in tech companies and even buying them outright.
Restaurant Business Editor-at-Large Peter Romeo joins Executive Editor Jonathan Maze on this week’s episode of RB's podcast, "A Deeper Dive," to discuss that trend—as well as its potential implications for the restaurant space as a whole.
Recently, McDonald’s acquired Israeli company Dynamic Yield and promised to add its personalized menus to its drive-thrus in the U.S. this year. It then invested in a New Zealand mobile app developer called Plexure.
Those moves follow a pair of investments in the space last year by KFC, Taco Bell and Pizza Hut owner Yum Brands—which invested $200 million in Grubhub and then bought online ordering company QuikOrder.
Such deals could become more commonplace as restaurants’ need for technology grows.
Please have a listen.