The delivery outfit’s takeover of US firm Kindred Systems should help with sales of its warehouse logistics
Ocado’s value improved by £1.3bn, or 8%, on Monday, an impressive gain. But one can safely say the jump wasn’t driven by the unremarkable news that the sheds and vans are still running at full capacity. The extra activity will produce £20m more profit for Ocado this year than expected in September – useful but not game-changing.
Rather, the fizz related to the company’s other news – two acquisitions to boost “robotic manipulation capabilities”. Ocado is buying San Francisco-based Kindred Systems for $262m (£201m) and Las Vegas-based robotic arm designer Haddington Dynamics for $25m.