Business
Ocado and AutoStore settle all Litigation
Ocado and AutoStore settle all Litigation.
About this update from Ocado Group Plc
[{"type":"text","content":"\n\nThis Announcement contains Inside Information\n \nOCADO GROUP PLC\n22 July 2023\n \nOcado Group plc\nOcado and AutoStore settle all Litigation\n \nOcado Group plc (\"Ocado\" or the \"Company\") today announces that the litigation between Ocado and AutoStore has been settled and each party is taking steps to withdraw their actions against the other party. The terms of the settlement are confidential, however we can disclose that:\n1. There is a cross-licence of certain patents between the parties whereby:\n● Ocado and AutoStore have complete freedom to access and use technology covered by each other's pre-2020 patents\n● Ocado and AutoStore are allowed to continue to use and market their own existing products without challenge of infringement of the other's post-2020 patents\n● AutoStore is not permitted to make or use a single-space cavity robot in any jurisdiction where Ocado has patent protection.\n2. AutoStore will pay £200m to Ocado. This will be paid in 24 monthly instalments, starting in July 2023. \n3. The agreement gives access to part of each party's patent portfolio for them to use or develop their own products. It does not provide for collaboration, technology assistance or access to actual products.\nTim Steiner, Chief Executive Officer of Ocado Group plc, said: \n\"I am pleased that we have worked together to resolve our differences and can now continue to focus on what we do best - innovating, developing and enabling partners to access world beating technology\"\nNeill Abrams, Group General Counsel and Company Secretary, said:\n\"I'm delighted that this litigation has now ended on satisfactory terms. I'd like to thank the internal Ocado IP team and our external counsel for their immense efforts in getting to this result.\"\n Contacts:\n● Tim Steiner, Chief Executive Officer, on +44 1707 228 000\n● Neill Abrams, Group General Counsel, on +44 1707 228 000\n● David Shriver, Chief Reputation Officer, on +44 1707 228 000\n● Louise Male at Teneo, on +44 20 7353 4200\n \nPerson responsible for arranging the release of this announcement:\nNeill Abrams\nGroup General Counsel & Company Secretary\nOcado Group plc\nBuildings One & Two Trident Place Mosquito Way\nHatfield, Hertfordshire\nAL10 9UL\nFax: +44 (0)1707 228 000\nemail...