Ocado Group plc (LSE:OCDO) entered into an agreement to acquire Kindred Systems, Inc. and Haddington Dynamics Inc. for approximately $290 million on November 2, 2020. As per the transaction, Ocado will acquire entire issued share capital of Kindred Systems and Haddington Dynamics. The acquisition consideration for Kindred Systems is approximately $262 million which is being financed using Ocado's existing cash reserves. Approximately $4 million will be retained by Ocado as deferred cash consideration and will be paid out to certain employee shareholders of Kindred Systems in equal tranches on the first, second and third anniversaries of closing, with payment of the deferred consideration conditional on the employee being employed by the Ocado group. Composition of the acquisition consideration for Haddington Dynamics is approximately $25 million, which will be comprised of mixture of cash $7 million and 0.6 million of new Ocado ordinary shares. A proportion of the consideration will be subject to contractual restrictions that will be removed over time subject to the achievement of certain technological delivery milestones and ongoing key employee retention. In certain circumstances, at Ocado's election, the consideration may be comprised solely of cash (financed by Ocado's existing cash reserves). Kindred Systems generated revenues of $1.7 million and a net loss of $16.2 million in the year ended 31 December 2019. As of 31 December 2019, Kindred Systems had gross assets of $29.2 million and net assets of $25 million (unaudited). Ocado has identified Marin Tchakarov, Adrian Martin, Gabriel Mahoney, James Bergstra, Joe Nentwig, and Michael Daymond as key individuals important to the Kindred Systems business. It is a condition to the acquisition closing that all Key Individuals remain employed by Kindred Systems immediately prior to closing. The completion of the acquisition is subject to the satisfaction of closing conditions including US regulatory approvals, antitrust approvals and employee retention. As of November 18, 2020, Federal Trade commission approved the acquisition of Kindred Systems. The acquisition is expected to close during calendar year 2020. On December 15, 2020, Ocado Group completed the acquisition of Kindred Systems Inc. Louis Goldberg, Daniel Brass, David R. Bauer, Veronica M. Wissel, Dan Hirschovits, Patrick E. Sigmon, Jonathan Cooklin and John B. Reynolds of Davis Polk served as legal advisors to Ocado Group plc. Gian Brown, Gian (John) Brown, Catherine Crane, David Glynn, Tyson Horrocks, Arthur Hundhausen, John Ludlum, Ryan Nichols, Peter Perla, Sara Shelly, and Lindsay Silber of Holland & Hart LLP acted as legal advisors to Haddington Dynamics Inc. Fasken Martineau DuMoulin LLP acted as legal advisor to the company in the transaction. Daniel O'Gorman of Walker Morris acted as legal advisor to Haddington Dynamics. Ocado Group plc (LSE:OCDO) completed the acquisition of Haddington Dynamics Inc. on December 21, 2020.