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Ocado signs technology deal with regional European retailer

Ocado has reported that it has signed an agreement with a regional European retailer for use of its Ocado Smart Platform.

FOOD & DRINK

Ocado signs technology deal with regional European retailer

Ocado has reported that it has signed an agreement with a regional European retailer for use of its Ocado Smart Platform.

The online grocery company said the retailer wishes to remain anonymous until it launches its online business.

Ocado will provide the partner with its full software platform, know-how and support services required to create an online grocery business, with orders initially fulfilled from the retailer’s manually operated centralised warehouse.

The agreement gives the partner the right to request in the future the installation of automated mechanical handling equipment in centralised warehouses, powered by OSP technology, on terms to be separately agreed.

The partner will pay an up-front fee to Ocado for access to the OSP, together with ongoing fees based on the volume of products sold online.

Tim Steiner, chief executive of Ocado, said: "We are delighted that our partner has decided to adopt OSP for its online operations. This is an exciting step in the evolution of our business and in the delivery of our strategy.

“The benefits of our integrated solution are clear. As this particular retailer looks to develop its online offering the agreement we have signed provides the flexibility to expand its capacity efficiently in the future. We look forward to working closely with our new partner in the months and years ahead.”

The company said discussions with other retailers across the globe are ongoing and that it expects to sign “multiple deals in the medium term".

Ocado began the commercialisation of its intellectual property in 2013 with its agreement to operate the online business of the Morrisons supermarket chain in the UK. The agreement was further expanded in 2016.

 

 

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