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

OCADO GROUP PLC

(OCDO)
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Ocado : AutoStore Files New Lawsuit Against Ocado Over Technology Patents

11/10/2020 | 04:29am EST

By Matteo Castia

AutoStore said late Monday that it has filed an entitlement action in the U.K. against Ocado Group PLC, claiming the ownership of certain patents filed by the online grocer and technology group.

The Norwegian robot-technology company said it is acting to obtain orders to investigate the ownership of some Ocado patents relating to the Ocado Smart Platform filed by British company since June 2014.

"AutoStore is seeking orders that, among other things, affirm it is the true owner of the patents, assign the patents to AutoStore, and declare that none of the Ocado personnel named as inventors within the patents was in fact the inventor or has the right to be named as such," the Norwegian company said.

Specifically, the disputed technology covered by these patents includes several aspects of design in automated storage and retrieval systems which form the basis of Ocado's partnerships with international retailers such as Kroger Co. in the U.S. and Marks & Spencer Group PLC in the U.K.

The lawsuit claims that Ocado took possession of technical expertise, know-how and materials relating to robotic technology from AutoStore in a series of interactions between the two companies in 2011 and 2012, when Ocado became an AutoStore customer.

The relevant patents have been granted in the U.K. in 2018 and 2019 but are still pending patent applications in Europe.

"These inventions are ours and we will continue to defend our intellectual property by whatever means necessary. Ocado is entirely confident in the integrity of its intellectual property portfolio and the disciplined approach we have taken to building our capabilities and the Ocado Smart Platform," an Ocado spokesperson told the Wall Street Journal.

AutoStore's action follows its lawsuits against Ocado in the U.S. and U.K. last month, also filed over alleged patent infringement.

Ocado shares at 0910 GMT were down 41 pence, or 2.1%, at 2,234 pence.

Write to Matteo Castia at matteo.castia@dowjones.com

(END) Dow Jones Newswires

11-10-20 0428ET

Stocks mentioned in the article
ChangeLast1st jan.
KROGER 1.69% 33.7 Delayed Quote.4.35%
OCADO GROUP PLC -2.75% 2513 Delayed Quote.12.99%
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Financials
Sales 2020 2 354 M 3 199 M 3 199 M
Net income 2020 -144 M -195 M -195 M
Net cash 2020 270 M 367 M 367 M
P/E ratio 2020 -141x
Yield 2020 -
Capitalization 18 552 M 25 217 M 25 209 M
EV / Sales 2020 7,77x
EV / Sales 2021 6,94x
Nbr of Employees 15 152
Free-Float 68,1%
Chart OCADO GROUP PLC
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Ocado Group plc Technical Analysis Chart | OCDO | GB00B3MBS747 | MarketScreener
Technical analysis trends OCADO GROUP PLC
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 19
Average target price 2 083,41 GBX
Last Close Price 2 584,00 GBX
Spread / Highest target 33,9%
Spread / Average Target -19,4%
Spread / Lowest Target -65,2%
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
JŲrn Rausing Independent Non-Executive Director
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