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Cork tech company Everseen, which is backed by several high profile Irish business figures, is suing Walmart in the US, alleging the retail giant stole its technology to build a competing product.
Everseen develops technology using artificial intelligence to improve efficiencies at self-service checkouts, such as spotting irregularities like items not scanning.
The company, which is valued at over €100mm sells the technology, called ‘checkout process intelligence’ (CPI), to retailers as a means to reduce theft in stores. Walmart was one of its most high profile customers.
In a lawsuit filed in Arkansas, where Walmart’s corporate headquarters are located, the Cork company alleges that Walmart used confidential and proprietary information about its technology shared during contract review talks to eventually build its own product which operates similarly to Everseen’s.