Cork company Eversen has settled its lawsuit with US grocery giant Walmart.
Based in Blackpool, north of the city, the company is creating video technology software that monitors self-service checkouts to alert staff to potential thefts or poorly scanned items. Founded by Alan O’Herlihy, the company has worked with at least 14 of the world’s 25 largest retailers, including Walmart.
Earlier this year, the company began legal action in the United States, alleging that Walmart was producing its own version of the technology that Everseen was also selling to other companies. Walmart had denied the request. The two companies have been working on a settlement agreement for several months.
“Everseen and Walmart are pleased to have resolved this lawsuit out of court,” Eversen said in a statement. “The parties value the working relationship they have established around Everseen’s innovative and effective visual AI technology. The terms of the settlement are confidential.”
Accounts released earlier this month for Evergreen show it saw significant growth last year, nearly doubling revenue to $ 23.3 million.
In an interview with theEarlier this year, Mr. O’Herlihy said the company was focused on expanding beyond the United States, targeting Asia and mainland Europe, seeking to grow by a factor of 10 over a period of time. two years.
âAs a business, we don’t depend on a single customer. The plan is to diversify our products and our customer base,â he said.