Shares in NZX-listed Plexure have soared this week on the news that McDonald's is spending $5.4 million on taking a 9.9 per cent stake in the mobile app vendor.
McDonald's said its investment in Plexure would provide it with enhanced access to Plexure's technology in the quick service restaurant space, including access to greater back-end and front-end features, customer functionality and customer targeting.
But investment research firm Shareclarity said the deal could limit Plexure's potential.
"The investment from McDonald's and a new software services agreement provides revenue certainty for PLX but limits upside given restrictions on providing similar services to competitors of McDonald's," Shareclarity said.
Plexure chief executive Craig Herbison says the funds from the placement of 13.8 million shares to McDonald's will be used to expand the company.