Yum! Brands, the operator of over 50,000 restaurants around the globe under its brands KFC, Taco Bell, and Pizza Hut, has announced the acquisition of Kvantum’s consumer insights and marketing performance analytics business.
Kvantum works by developing and deploying algorithms and artificial intelligence models to aid brands in understanding consumer behavior and making informed media and calendar decisions. It can also track the impact of marketing tactics across owned, paid, and earned channels.
In a statement, David Gibbs, Chief Executive Officer of Yum! Brands said, “Technology strategies that elevate the customer and employee experience and lead to smart, data-driven marketing decisions are critical to keeping our brands R.E.D. (relevant, easy to access and distinctive) and delivering growth for our franchisees and shareholders.”
The deal is expected to close in the first quarter of 2021.