Ocado Buys Up Two U.S. Robotic Start-Ups
SAN FRANCISCO, CA - Ocado, the industry partner known for partnering with Kroger, has made another push into the supermarket sector with its latest acquisition. The company recently announced that it acquired the robotics firm Kindred Systems for $262 million in cash, as well as Haddington Dynamics for $25 million in cash and shares.
Ocado Chief Executive Tim Steiner remarked in a statement that the acquisitions will allow the company to “accelerate delivery, innovate more, and grow faster.”
As it continues to drive growth both for itself and for industry partners like Kroger, Ocado’s strategic investments in new firms shows a determination to be cutting-edge in this cutthroat sector.
“In our mission to solve one of the world’s hardest challenges in robotics, the picking and packing of groceries, we’re acquiring two leading robotics companies,” Ocado acknowledged in a statement.
Kindred Systems specializes in building robots that pick and pack online orders, whereas Haddington Dynamics creates robotic arms.
How will this acquisition continue to drive growth for Ocado—and how will it drive growth for its partners? Keep reading us here at AndNowUKnow to find out.