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Taco Bell parent Yum Brands acquires digital ordering business

Economy, Finance

Yum Brands Inc. said Wednesday that it has acquired Tictuk Technologies, a global ordering and marketing platform that uses social media and chat channels like WhatsApp and Facebook Messenger to reach customers. Yum has used Tictuk in 900 KFC, Pizza Hut and Taco Bell restaurants in 35 countries outside of the U.S. Financial details were not disclosed. Yum says digital business in 2020 jumped 45% to a record $17 billion. Earlier this month, Yum also entered into a definitive agreement to acquire Kvantum, a consumer insights and marketing company that uses an artificial intelligence-based platform. That deal is expected to close during the first quarter of 2021. Both deals are all-cash acquisitions that Yum says will have an “immaterial impact” on 2021 financial results. Yum stock has rallied 55% over the past year while the S&P 500 index is up 59.8% for the period.

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