Robotic picker provider Kindred Systems is set to be bought in a $262m cash transaction that will hand exits to Tencent and GV.
Grocery delivery service Ocado agreed the $262m acquisition of US-based warehouse robotics technology provider Kindred Systems yesterday through a deal enabling internet group Tencent and internet technology conglomerate Alphabet to exit.
Kindred produces piece-picking robots equipped with artificial intelligence for use in fulfilling e-commerce orders in warehouses. It made a $16.2m net loss from $1.7m in revenue in 2019, and the all-cash transaction includes $4m that will go to employee shareholders.
The deal comes after $44m in funding for Kindred,…
