Anoto receives first major order for its newest pen and sheds management overhead in favor of sales expansion
08 February 2018 - 9:42PM
Anoto receives first major order for its newest pen and sheds
management overhead in favor of sales expansion
Stockholm, February 8, 2018 –
Anoto Group AB (Anoto) today announces that it has received an
order for 70,000 pens from Cevahir Group (Cevahir), a new partner
located in Turkey. Based on Anoto’s new volume-based pricing model,
this order for the recently released AP‑701 pens has a near-term
transaction value of almost USD $7 million. It is expected that the
pens delivered in this period will generate a further USD $3
million in recurring pen- and pattern-licensing revenue over the
next couple of years. This puts the total estimated value of the
transaction at around $10 million over a three-year period.
Cevahir is a premier conglomerate active in
finance, mining, security, and technology. Started in 1967, this
rapidly growing enterprise has enjoyed both regional and
international success in all business units.
Demand for the AP-701 is rapidly building with
this major order coming immediately after a USD $200K order for
AP-701 pens from SMark, an Anoto partner in Korea. The SMark order
has already been successfully filled.
Having completed an important organizational
transformation, Anoto is now able to focus on driving growth. The
newly streamlined operation no longer requires the overhead of a
COO and a CLO permitting Anoto to redirect those funds to
assembling a world class global sales team. These significant
orders are the early results of this eagerly anticipated
reallocation of resources.
For further information, please
contact:
Joonhee Won, CEO
For more information about Anoto, please visit
www.anoto.com or email ir@anoto.comAnoto Group AB (publ),
Reg.No. 556532-3929, Flaggan 1165, 116 74 StockholmTel. +44 (0)
1256 774400
This information is information that Anoto Group
AB (publ) is obliged to make public pursuant to the EU Market Abuse
Regulation and the Securities Markets Act. The information was
submitted for publication, through the agency of the contact person
set out above, at 08:45 CET on 8 February 2018.
About Anoto Anoto is a publicly
held Swedish technology company known globally for innovation in
the area of information-rich patterns and the optical recognition
of those patterns. It is a leader in digital writing and drawing
solutions, having historically used its proprietary technology to
develop smartpens and the related software. These smartpens enrich
the daily lives of millions of people around the world. Now Anoto
is also using its pattern, optics, and image-processing expertise
to bridge between the analogue and digital domains through an
initiative known as Anoto DNA (ADNA). ADNA makes it possible to
uniquely and unobtrusively mark physical objects and then easily
identify those individual objects using ubiquitous mobile devices
such as phones and tablets. ADNA is enabling exciting possibilities
for product innovation, marketing insights, and supply-chain
control. Anoto is traded on the Small Cap list of Nasdaq Stockholm
under ANOT.
http://prlibrary-eu.nasdaq.com/Resource/Download/071de248-1062-487f-941d-aeabf5f60b92
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