Yum! Brands Acquire Dragontail Systems
Yum! Brands, Inc. (NYSE: YUM) (Yum! Brands) announced today the completion of its acquisition of Dragontail Systems Limited (Dragontail), an innovative provider of technology solutions for the food industry, following the successful implementation of the previously announced share scheme of arrangement in accordance with Australian corporations law.
Yum! Brands acquired all of the issued and outstanding common shares of Dragontail for A$0.235 per share in cash or a total of approximately A$93.5 million. With today’s announcement, following the approval by the Australian Federal Court and by Dragontail shareholders and certain other regulatory waivers and rulings, Dragontail is now a wholly owned subsidiary of Yum! Brands, Inc. Yum! Brands estimates that this all-cash acquisition will have an immaterial impact on its 2021 financial results.
Dragontail’s platform is focused on optimizing and managing the entire food preparation process from order through delivery. Its connected, intelligent, end-to-end AI-based solution automates the kitchen flow combined with the process of dispatching drivers. It helps restaurants sequence and time each order, while planning optimal delivery routes and combining delivery orders by location. The technology also offers consumer-facing capabilities that enable customers to track their order en route. In addition, it can operate with outside food delivery partners.
