Thomson Geer has advised food technology company, Dragontail Systems Limited (an ASX listed company) on its proposed acquisition by restaurant company, Yum! Brands Inc. Completion of the transaction, which is subject to a number of conditions, is expected to occur in August/September 2021.
Under the deal, a Yum! Brands Inc. company will acquire 100% of all issued shares in Dragontail Systems by way of a scheme of arrangement for an aggregate consideration of AUD$93.5m.
Dragontail Systems is an innovative provider of technology solutions for the food industry, owning a patented system that helps fast-food restaurants automate and streamline their food preparation processes by choosing the most efficient sequence of events from the kitchen to delivery. This software is currently used by companies such as Pizza Hut and KFC internationally.