Plexure gains McDonalds investment

04 Apr 2019 11:34 AM | Rebecca Caroe (Administrator)

Fast-food multi-national McDonald’s is spending $5.4 million on a 9.9 percent stake in NZX-listed technology minnow Plexure after being a customer off and on since at least 2012.

McDonald’s says this is its first-ever investment in a mobile app vendor and will provide it with enhanced access to Plexure’s technology in the quick service restaurant space, including access to greater back-end and front-end features, customer functionality and customer targeting.

“Across all markets, we’re using technology to elevate and transform the McDonald’s customer experience,” says group president and chief executive Steve Easterbrook.

“This investment is a testament to our belief in Plexure’s ability to deliver strong results for our business as well as the talent and technology they’ve cultivated.”

Plexure designs and builds software allowing other businesses, mainly retailers and fast food outlets, to target customers via their mobile phones.

Plexure chief executive Craig Herbison says the funds from the placement of 13.8 million shares to McDonald’s will be used to expand his company.

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