Pizza Hut has agreed to acquire QuikOrder, an online ordering software and service provider for restaurants, in a move to learn more about its customers.
The terms of the deal were not released, but the announcement called it one of Pizza Hut's biggest acquisitions to date.
The pizza chain has been the laggard among Yum Brands' fast food subsidiaries, struggling to take advantage of Papa John's declining market share.
QuikOrder will allow Pizza Hut to be more nimble and accelerate its growth, David Gibbs, CFO of Yum Brands, said during the company's investor day Wednesday. Gibbs said the company's other brands will also benefit from the knowledge Yum gets from running an e-commerce platform.
Third-party services, whether they incorporate delivery or not, reap the benefit of having full access to consumer data. With that data, those companies learn what customers order, when they order it, how often they are using the platform and can leverage it to bolster sales or lure in diners from other services.
Customers who order online increase their spending by 20 percent, according to data compiled by Deloitte. Greater access to their data could help Pizza Hut increase sales even more by specifically targeting customers during the online ordering process.
The Plano, Texas-based company has a previous relationship with QuikOrder. In 2018, about half of Pizza Hut's American sales were processed through the platform, according to the statement.
Earlier this year, Yum bought a 3 percent stake in Grubhub, the online food-ordering company. In addition to a seat on the company's board, Yum now also has access to the data that it collects on KFC and Taco Bell.
Grubhub's stock price is up 11 percent since the investment, but has declined by 44 percent in the last three months.
Correction: This story was revised to correct that Pizza Hut is based in Plano, Texas.