Davis Polk is advising Ocado Group plc on its acquisition of Kindred Systems, an advanced piece-picking robotics company, for approximately $262 million in cash, subject to typical purchase price adjustments. Subject to satisfaction of certain closing conditions, the transaction is anticipated to close in the fourth quarter of 2020.
Ocado is a U.K.-based technology company admitted to trading on the London Stock Exchange. It provides end-to-end online grocery fulfilment solutions to some of the world’s largest grocery retailers. Ocado has spent two decades innovating for grocery online, investing in a wide technology estate that includes robotics, AI & machine learning, simulation, forecasting and edge intelligence.
Kindred Systems is a robotics solutions company based in San Francisco and Toronto that designs, supplies and services sophisticated piece-picking robots for e-commerce and order fulfillment.
The Davis Polk corporate team includes partners Louis Goldberg and Daniel Brass and associate Sang Hun Lee. The intellectual property and technology transactions team includes partner David R. Bauer and associate Michael V. Policastro. Partner Veronica M. Wissel is providing executive compensation advice. Partner Dan Hirschovits is providing UK corporate law advice. Partner Patrick E. Sigmon is providing tax advice. Partner Jonathan Cooklin is providing UK tax advice. Partner John B. Reynolds III is providing CFIUS advice. Members of the Davis Polk team are based in the New York, London and Washington DC offices.