Lund, December 16th, 2008 – Anoto today announces that it has sold its subsidiary for video technology, Logipard AB, to one of the worlds leading technology companies.
According to the contract, Anoto is transferring most of its Imaging Technology business, including customer contracts and Anoto’s shareholding of 80% in Logipard to a leading player in the semiconductor industry. Anoto is retaining ASIC sales, which corresponds to approximately 40% of this year’s volume within the application area for Imaging Technology. The value of the contract is 76 MSEK of which 68 MSEK has been paid upon signing. The rest will be paid during the summer of 2010.
“We are thrilled to see that a major technology company wants to further develop our unique competence in video technology. We made the initial decision to move our video technology to a separate subsidiary based on the fact that we saw a great potential in this non-core business and realized that we needed to put more focus on developing and selling these products. The decision to now sell the operations is a logical next step in this process. We are convinced that the new owner will support and develop this technology even further”, says Anders Norling, CEO at Anoto Group AB
Anoto Group AB may be required to disclose the information provided herein pursuant to the Securities Markets Act. The information was submitted for publication at 17.20 p.m. on December 16th, 2008.
Anoto Group AB
Anoto Group is the company behind and world leading in the unique technology for digital pen and paper, which enables fast and reliable transmission of handwritten text into a digital format. Anoto operates through a global partner network that focuses on user-friendly forms solutions for efficient capture, transmission and storage of data within different business segments, e.g. healthcare, bank and finance, transport and logistics and education. The Anoto Group has around 115 employees, offices in Lund (head office), Boston and Tokyo. The Anoto share is traded on the Small Cap list of the OMX Nordic Exchange in Stockholm under the ticker ANOT. For more information: www.anoto.com