U.K.-based online supermarket Ocado is purchasing Toronto- and San Francisco-based Kindred Systems for US$262 million and Las Vegas-based Haddington Dynamics for US$25 million. Ocado’s stock was up over eight per cent at close. (The Logic)
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U.K.-based online supermarket Ocado is purchasing Toronto- and San Francisco-based Kindred Systems for US$262 million and Las Vegas-based Haddington Dynamics for US$25 million. Ocado’s stock was up over eight per cent at close. (The Logic)
Talking point: Ocado runs warehouses for grocery giants, like Sobeys and Kroger, where robots pick items from crates and then bring them to humans who pack each order. Ocado launched its first North American warehouse in Vaughan, Ont. in April, to help Sobeys with its new Voilà delivery service. These acquisitions will add about US$38 million in annual revenue for the firm, which brought in about US$2.3 billion last year.
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