UK's Ocado jumps on settling patent lawsuit with AutoStore

AutoStore Holdings

24/07/2023 08:14

** Shares of Ocado Group PLC  OCDO.L  up 7.8% at 741.4 pence
    ** The online grocer settles all patent litigation claims
with Norwegian robotics firm AutoStore Holdings Ltd  AUTO.OL 
    ** AutoStore to pay 200 mln pounds ($257.4 mln) to Ocado
over two years
    ** Deal grants both cos access to certain parts of each
other's patent portfolio to use and develop their own products
    ** But, deal does not allow for collaboration, tech support
between the cos or access to actual products 
    ** OCDO is up ~11.4% YTD
 
 ($1 = 0.7771 pounds)

 (Reporting by Richard Rohan Francis in Bengaluru)
 ((Richardrohan.francis@thomsonreuters.com))