Ocado To Buy Two Robotics Companies For $287 Million

LONDON: Ocado, the British online supermarket and technology group, said on Monday it would buy two robotics companies for a total of $287 million.

The group said it was buying Kindred Systems Inc for $262 million and Haddington Dynamics Inc for $25 million.

Ocado also upgraded the full-year core earnings outlook for Ocado Retail Ltd, its joint venture with Marks & Spencer, due to strong fourth quarter trading so far.

It expects full year earnings before interest, depreciation and amortisation (EBITDA) for Ocado Retail to be over 60 million pounds, versus previous guidance of over 40 million pounds.

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