Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Ocado Group plc    OCDO   GB00B3MBS747

OCADO GROUP PLC

(OCDO)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Ocado to Buy Two Robotic Companies for $287 Million

11/02/2020 | 02:44am EST

By Anthony O. Goriainoff

Ocado Group PLC said Monday that it will buy two companies to enhance its robotic-manipulation capabilities, and accelerate the commercial delivery of robotic picking for its Ocado Smart Platform clients, for around $287 million.

The FTSE 100 online grocer and retail-technology specialist said it will buy Kindred Systems Inc.--an advanced piece-picking robotics company--for $262 million, and this will be financed using its existing cash reserves. Around $4 million will be retained as deferred cash consideration and will be paid out to certain employee shareholders in equal tranches, and conditional on the employee being employed by Ocado, the company said. It added that completion is dependent on the satisfaction of closing conditions including U.S. regulatory approvals and employee retention, and that it expects to close this year.

Ocado will also buy Nevada-based Haddington Dynamics Inc.--a robotic-arm designer and manufacturer--for around $25 million, with completion being subject to the satisfaction of certain U.S. regulatory and commercial closing conditions. The transaction--which will consist of a mixture of around $7 million in cash and 600,000 new Ocado ordinary shares--is expected to close in 2020.

"Given the market opportunity, we want to accelerate the development of our systems, including improving their speed, accuracy, product range and economics," Chief Executive Tim Steiner said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

11-02-20 0243ET

Stocks mentioned in the article
ChangeLast1st jan.
KINDRED GROUP -2.10% 104.75 Delayed Quote.32.82%
MSCI UNITED KINGDOM (STRD, UHD) 0.78% 1069.255 Real-time Quote.3.72%
OCADO GROUP PLC 1.20% 2787 Delayed Quote.20.42%
All news about OCADO GROUP PLC
01/22KROGER : UK-Based Grocer Ocado Partnering to Build Customer Fulfilment Center in..
MT
01/22OCADO : Kroger and Ocado Announce Location of High-Tech Customer Fulfillment Cen..
PR
01/22EG's Chairman Appointment Raises IPO Prospect
MT
01/21STUART ROSE : Britain's EG Group appoints Rose as non-executive chairman
RE
01/14OCADO : Barilla buys British fresh pasta maker Pasta Evangelists
RE
01/11Ocado warns product availability being impacted by COVID-hit suppliers
RE
01/11OCADO : Flags Potential Shortage of Some Items as UK Suppliers Amend Supply Chai..
MT
01/11MARKET CHATTER : Royal Mail To Appoint Former Ocado Executive As CEO
MT
01/08M&S clothing sales cut by British lockdown measures
RE
01/08M&S clothing sales cut by British lockdown measures
RE
More news
Financials
Sales 2020 2 354 M 3 233 M 3 233 M
Net income 2020 -144 M -197 M -197 M
Net cash 2020 270 M 371 M 371 M
P/E ratio 2020 -152x
Yield 2020 -
Capitalization 20 574 M 28 257 M 28 260 M
EV / Sales 2020 8,63x
EV / Sales 2021 7,69x
Nbr of Employees 15 152
Free-Float 68,1%
Chart OCADO GROUP PLC
Duration : Period :
Ocado Group plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends OCADO GROUP PLC
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 2 266,28 GBX
Last Close Price 27,87 GBX
Spread / Highest target 17 840%
Spread / Average Target 8 032%
Spread / Lowest Target 3 129%
EPS Revisions
Managers and Directors
NameTitle
Timothy Steiner Chief Executive Officer & Executive Director
Stuart Alan Ransom Rose Non-Executive Chairman
Mark Richardson Chief Operating Officer & Executive Director
Neill Abrams Secretary, Executive Director & General Counsel
Jörn Rausing Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
OCADO GROUP PLC20.42%27 757
COSTCO WHOLESALE CORPORATION-3.95%160 297
TARGET CORPORATION7.72%95 222
THE TJX COMPANIES-3.82%78 857
WAL-MART DE MÉXICO, S.A.B. DE C.V.9.43%52 992
DOLLAR GENERAL CORPORATION-1.77%50 610