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Pizza Hut picking up QuikOrder
Posted on Wednesday, 05 December 2018 15:25
US fast food chain Pizza Hut has reached an agreement to acquire online ordering software maker QuikOrder.
No financial details of the transaction have been disclosed at this time.
Completion remains subject to standard closing conditions and is expected to follow later this month.
Greg Creed, chief executive of Pizza Hut owner Yum! Brands, said: “The acquisition strengthens the brand's digital roadmap and innovation and aligns with the strategy we put in place to drive Pizza Hut's growth.
“We're excited by the opportunity this acquisition presents, and the future potential to scale QuikOrder's technology across the Yum! family."
Pizza Hut US’s president, Artie Starrs, added that the combination gives the buyer access to the target’s developers and will enable it to introduce new products more quickly.
The company believes it will be improve its online ordering experience in the US. Around half of its sales were processed using QuikOrder’s technology in 2018.
QuikOrder was founded in 1997 and its technology is used by a wide range of eateries, from local restaurants to international chains.
According to Zephyr, the M&A database published by Bureau van Dijk, Yum! Brands’ most recent acquisition was announced in May 2017, when it paid USD 200.00 million for household services platform operator daojia.com.cn.
Zephyr shows there have been 3,727 deals targeting software publishers announced worldwide since the beginning of 2018.
Of these, the largest was worth USD 34.00 billion and involved IBM agreeing to pick up North Carolina-based open source technology developer Red Hat in late October.
This was followed by Dell Technologies increasing its stake in VMWare from 81.9 per cent to 100.0 per cent in exchange for an investment of USD 21.70 billion.
Other companies in the sector to have been targeted this year include DST Systems, Xiaoju Kuaizhi and Beijing Mobike Technology.
© Zephus Ltd