Lund, March 17, 2017 – Anoto Group AB (Anoto) is continuing its process of global consolidation to enjoy greater operational efficiency. As part of this process, Anoto is closing its locations in Lund and Norrköping, Sweden, and establishing a new presence in Stockholm that is primarily dedicated to investor relations activities.
After this phase of consolidation, Anoto will perform all hardware development and manufacturing functions in Asia and all finance, operations, and software development functions in the UK. Leading Swedish designers and technologists will continue to play important roles to help Anoto delight customers with low-cost high-value products built using a significant-and-growing portfolio of intellectual property.
"The consolidation of the offices is not about saving costs, but more about increasing the productivity and the efficiency of the organization.
I believe the gathering of all management team members in a single location increases communication and coordination. It allows us to respond more quickly to our customers' demands and minimize execution errors.
More importantly, the concentration of R&D personnel into a single location will speed up the development process. As we are in the middle of ADNA productization and developing our next generation pens, we have to increase coordination and communication.
Lastly, this is an effort to change the culture of Anoto from academic research to a hungry start-up. I want our team to work like a start-up company and meet customer demands whilst on the run. There should not be any more delays and failures in execution and removing duplicate functions also increases accountability and reduces diffusion of responsibility," said Joonhee Won, CEO of Anoto.
Anoto anticipates that the above consolidation will result in certain management changes relating to technology and finance. These include Anders Sjögren stepping down as CTO and Felix Yie joining the management team as Chief Development Officer. The organizational changes that Anoto made in the second half of 2016 are, as previously reported, already delivering positive results and it is believed that these consolidations will similarly contribute to improved business performance.
For further information, please contact:
Joonhee Won, CEO
For more information about Anoto, please visit www.anoto.com or email ir@anoto.com
Anoto Group AB (publ)
Reg.No. 556532-3929, Mobilvägen 10, SE- 223 62 Lund
Tel. +46 46 540 12 00
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 imperceptibly 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.
