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Yum! Brands Inc. acquires delivery tech firm Dragontail Systems

Yum! Brands Inc. acquires delivery tech firm Dragontail Systems
Yum! Brands Inc. acquires delivery tech firm Dragontail Systems

Yum! Brands Inc. has reportedly completed the acquisition of Dragontail Systems Ltd., an innovative supplier of tech solutions for the food industry. This move comes along the heels of the successful execution of the formerly announced share plan of arrangement as per the corporations law of Australia.

Yum! Brands took over all of Dragontail’s outstanding and issued common shares for A$0.235 per share in cash, or a total of around A$93.5 million.

With the announcement, Dragontail is a completely owned subsidiary of Yum! Brands, post approval by the Australian Federal Court and by the shareholders of Dragontail along with certain other rulings and regulatory waivers. The company estimates that the all-cash takeover will have an inconsequential impact on the 2021 financial results of the American fast-food corporation.

The platform of Dragontail is designed for managing and optimizing the entire process of food preparation, from order to delivery. Its end-to-end, intelligent, connected AI-based solution automates the kitchen flow in combination with the driver dispatchment process. It helps restaurants time as well as sequence each order, whilst planning optimal delivery routes as well as combining location-based delivery orders.

The technology also provides consumer-facing abilities that allow consumers to track their orders. Apart from this, it can also operate with third-party food delivery partners.

David Gibbs, the Chief Executive Officer of Yum! Brands commented that the continuous growth of the company’s technology, as well as digital strategy, is a crucial growth driver for its business and the teams. This includes how Yum! Brands leverages its global scale with investments in tech-related programs that improve the employee as well as consumer experience, bolsters the economics of restaurant units, and offers competitive benefit for its franchisees.

He added that the company is delighted to welcome Dragontail and its top-class talent to the brand’s family and eventually looks to deploy its AI-powered kitchen order management and delivery technologies across the world to its franchisees and brands.

Source credits:

https://www.businesswire.com/news/home/20210908006173/en/Yum%21-Brands-Completes-Acquisition-of-Dragontail-Systems-an-Innovator-in-Kitchen-Order-Management-and-Delivery-Technology

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