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Ocado and supermarket giant sign deal to develop smart platform

U.K. online grocer Ocado and French supermarket monster Groupe Casino have signed an agreement to develop the Ocado Smarting Platform (OSP) in France.

Ocado describes the OSP as a “proprietary solution for operating online retail provinces.” In an announcement Tuesday morning, the companies said that the scalable and modular end-to-end outcome provided by the OSP offered a “unique answer to the opportunities and challenges posed by move offline/online trends in grocery.”

Shares of Ocado spiked on the intelligence, rising more than 26 percent as the session opened Tuesday.

The houses said that the agreement set out plans for the “immediate initiation” of the development of a fellow fulfilment center that would use Ocado’s proprietary mechanical cope with equipment.

The warehouse will serve the Paris area as well as the Normandie and Hauts de France areas. The build and launch of the fulfilment center is expected to last “at least” two years.

Jean-Charles Naouri, Groupe Casino’s CEO, implied the agreement represented a “major leap in terms of quality: 50,000 scoff items will be offered in the first stage to customers in the Greater Paris arrondissement with precise and speedy delivery at home and through a platform which pampers it achievable to do this profitably.”

Ocado CEO Tim Steiner said the business wish continue to make investments to commercialize its proprietary platform and expected the Casino Groupe trade “to be one of many successful collaborations with leading retailers to use it the world concluded.”

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