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.com
Anoto Group AB (publ), Reg.No. 556532-3929, Flaggan 1165, 116 74 Stockholm
Tel. +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.
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