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McDonald’s to sell digital tech startup Dynamic Yield to Mastercard

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In Princeton, Illinois, vehicles are parked in the drive-thru lanes of a McDonald’s Corp.

Getty Images| Bloomberg | Getty Images

McDonald’sOn Tuesday, the company announced it was selling a technology company that it had acquired three years earlier. MastercardAn undisclosed sum

Fast-food chains had bought Dynamic YieldIn 2019, specializes in decision logic and personalization technology.

The deal was rare for McDonald’s, and it marked McDonald’s largest acquisition in over 20 years. CNBC was told by sources familiar with terms that the deal had a value of more than $300million.

Dynamic Yield’s technology is currently being used in multiple markets worldwide to order kiosks and drive-thrus at McDonald’s.

According to the companies, Dynamic Yield will be able to expand its technology into third-party business through its Mastercard deal. McDonald’s said it would continue working with Mastercard, Dynamic Yield and other companies to scale the technology at its stores.

It is anticipated that the deal will close within six months.

McDonald’s stocks were down less than 1 percent Tuesday morning as Mastercard’s stock rose close to 2%.

The complete press release by Mastercard and McDonald’s can be found here here.

—CNBC’s Amelia LucasThis report was contributed by you.

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