LONDON (dpa-AFX) - Ocado Group plc (OCDO.L) an online grocery retailer, announced that the litigation between itself and AutoStore Holdings Ltd. (AUTO.OL) a software infrastructure company has been settled.
While the terms have been kept confidential, the parties have agreed on the following:
Ocado and AutoStore have agreed to have complete freedom to access and use technology covered by each other's pre-2020 patents.
They are allowed to continue to use and market their own existing products without infringement challenge of the other's post 2020 patents
AutoStore isn't allowed to make or use a single-space cavity robot in any jurisdiction where Ocado has patent protection.
AutoStore has to pay Ocado 200 million pounds and it will be paid in 24 installments monthly starting in July of this year.
The agreement will give access to part of each party's patent portfolio for them to use or develop their own products. It doesn't include collaboration, technology assistance or access to actual products.
Currently, Ocado shares are trading at 753.80 pence up 9.72% or 4.20 pence on the London Stock Exchange and AutoStore shares are trading at 22.95 Norwegian Krone down 4.73% on the Oslo Stock Exchange.
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