Lund, October 11, 2010 - With a strong commitment to turn Anoto into a
profitable and prospering business, the board and management team of Anoto have
concluded that the company needs to restructure, sharpen its focus on the
current growth areas and streamline its product portfolio.
All research and product development activities are proposed to be transferred
and concentrated within one organization in Lund. Currently, product
development is handled by two different units in Lund and one unit in Tokyo.
Sales development of the AFS platform has not materialized as expected and with
the proposal to streamline Anoto's product portfolio, further development of
this platform will halt.
Anoto will focus on growing its business through existing and new partners
developing their own platforms and products based on Anoto technology.
The preliminary proposal is to reduce the overall staff with app. 25 employees
in Lund and app. 10 employees in the foreign offices. Consultants will be
reduced to a minimum.
Proposed staff reductions are expected to be completed in the beginning of 2011
together with a new organization. The staff reductions and other restructuring
measures will reduce OPEX with app. 25% and are expected to bring profitability
and positive cash flow mid 2011.
The board has instructed management to initiate negotiations with the labor
unions regarding the proposed restructurings.
For more information:
Torgny Hellström
CEO
Anoto Group AB
Phone: +46 46 540 13 00
About Anoto Group:
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 110 employees, offices in Lund (head office), Boston and
Tokyo. The Anoto share is traded on the Small Cap list of OMX Nordic Exchange
in Stockholm under the ticker ANOT. For more information: www.anoto.com.
