McDonald's is Plexure's biggest customer. Photo / NZME
Plexure Group's shares shot up 53 per cent after the mobile software developer announced that McDonald's has renewed its contract with the company to use its digital customer engagement platform for the next five years.
Plexure was up to 28 cents when the market opened this morning. McDonald's is Plexure's
biggest customer and under the new contract, the mobile phone marketing company will continue to provide McDonald's with its platform over the next five years – subject to operational performance.
Chief executive Dan Houden said he was excited about the "continued partnership" with the fast-food chain and was looking forward to working towards their mutual goal of delivering "excellent experiences" for McDonald's customers.
In its announcement to the NZX, Plexure said the renegotiation of the contract meant the transformation of the Plexure division has been completed. It is under new management following its merger with transaction platform provider Task in September last year.
"The transformation immediately underpins group profitability and enables the business to focus on driving profitable growth by leveraging its combined technology stack to provide an end-to-end cloud engagement and transaction platform at scale for the global QSR [quick service restaurant] and hospitality sector," Houden said.
