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Data: Dealogic; Note: Excludes Wendy's acquisitions of the interests of Wendy's and Wendy's International franchisees in 2005, 2006, 2014 and 2015; Adjusted for inflation; Chart: Andrew Witherspoon/Axios

McDonald's acquisition of sales assistant software Dynamic Yield to better personalize its menus is the 8th largest U.S. fast food acquisition in history but it's far and away the biggest of its kind.

Be smart: It's a rare instance of a major U.S. fast food company buying something other than another fast food company.

  • Yum Brands is behind the 2 exceptions. In 2018, Yum bought a 3% stake in GrubHub worth about $200 million.
  • Yum's Pizza Hut bought QuikOrder, an online ordering software and service provider for restaurants, late last year. Terms of the deal weren't disclosed.

Why it matters: The fast food industry has made technology a priority, but typically it's expressed that through partnerships. McDonald's has partnered with Uber Eats, for example, and with Dynamic Yield for a test program in Miami.

  • Companies also invest in internal tech development. Domino's has been rewarded by higher sales and a stock price boost for its use of technology to appeal to customers. But Domino's has never acquired anything but other restaurants, FactSet data shows.

Go deeper: The nutrition facts on Trump's McDonald's order

Go deeper

Trump's swift, sweeping China offensive

Illustration: Aïda Amer/Axios

President Trump's rhetoric on China has tended to run hotter than his actions — until now.

Why it matters: Even at the height of Trump's trade war, his administration never hit China as hard, as fast, and on as many fronts as it is right now.

Liberty University's Jerry Falwell Jr. agrees to “indefinite leave of absence”

Liberty University President Jerry Falwell Jr. in 2019. Photo: Ethan Miller/Getty Images

Jerry Falwell Jr. will take an “indefinite leave of absence” from his roles as president and chancellor of Liberty University after posting a photo of himself with unzipped pants and an arm around a woman on social media, according to the school.

The state of play: The picture, which has since been deleted, drew backlash and charges of hypocrisy from conservative political figures because the university's honor code strictly prohibits students from having "sexual relations outside of a biblically-ordained marriage," and recommends they dress with“appropriateness” and “modesty."

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4 p.m. ET: 19,189,737 — Total deaths: 716,669 — Total recoveries — 11,610,192Map.
  2. U.S.: Total confirmed cases as of 4 p.m. ET: 4,917,050 — Total deaths: 160,702 — Total recoveries: 1,598,624 — Total tests: 59,652,675Map.
  3. Politics: White House recommends Trump issue executive orders on coronavirus aid.
  4. Education: Cuomo says all New York schools can reopen for in-person learning.
  5. Public health: Surgeon general urges flu shots to prevent "double whammy" with coronavirus.
  6. World: Africa records over 1 million coronavirus cases — Gates Foundation puts $150 million behind coronavirus vaccine production.