Pizza Hut, a subsidiary of Yum Brands (NYSE:YUM), is buying online ordering service QuikOrder.
Pizza Hut dotes that it will be using QuikOrder to enhance its own online ordering capabilities. It also points out that roughly half of all online orders made in 2018 were through the the service.
What Pizza Hut doesn’t reveal about the deal are the details of it. This includes how much it is spending to acquire QuikOrder. Despite this, the company does say that this is one of its largest acquisitions to date.
“We’re doubling down on our commitment to digital and this deal positions Pizza Hut perfectly for the future,” Artie Starrs, President of Pizza Hut U.S., said in a statement. “We’re also gaining access to an immensely talented group of developers and digital innovators. Together we can more quickly provide breakthrough products and convenient services to our customers that will allow for better franchise economics over the long term.”
Pizza Hut’s acquisition of QuikOrder will be giving it talent that has a long history with the quick service restaurant industry and online ordering. The company was founded back in 1997 and has been working with multiple restaurants across the U.S. for roughly 20 years now.
Pizza Hut says that it still needs to complete customary closing conditions before the deal can close. However, it is expecting no trouble and is looking for the acquisition to reach completion sometime this month.
As of this writing, William White did not hold a position in any of the aforementioned securities.