Lund, November 6th , 2015 – On November 5, 2015, Anoto Group AB (“Anoto”) signed a share purchase agreement to acquire all shares in Livescribe Inc. (”Livescribe”), an Anoto partner since 2007, with its headquarter in the San Francisco Bay area. The acquisition is another step in consolidating the Anoto ecosystem and to realize synergies in hardware and software development, supply chain and operations, as well as to give Anoto access to additional market channels for online sales and retail distribution. Anoto is working on a new range of products to be launched in Livescribe sales channels in 2016.
The purchase price shall be paid in cash and is based upon an enterprise value of 15 MUSD equal to estimated annual sales for 2015. On closing, which is expected to take place on November 30, 2015, Livescribe will be debt free.
In order to finance the acquisition of Livescribe and to provide Anoto with the necessary working capital to execute on its expanded business plan, Anoto has signed a placement agreement with Carnegie Investment Bank AB ( "Carnegie" ) for the issuance of up to 158 million shares in Anoto, corresponding to a dilution of maximum 15 percent. In brief, the placing agreement implies that Carnegie has undertaken to on a best efforts basis and following instructions from Anoto, on one or several occasions, place or sell newly issued shares in Anoto at the prevailing market price.
Anoto has also entered into a short term loan agreement with a bank to be able to draw a credit facility of up to 25 MSEK.
Additional information about the acquisition of Livescribe is included in Anoto’s quarterly report for the period ending September 30, 2015. The report is made public today.
The information in this press release is published pursuant to the Swedish Securities Markets Act. The information was submitted for publication at 07.10 am on November 6th, 2015.
For more information, please contact:
Stein Revelsby
CEO Anoto Group
+46 733 45 12 05
Anoto Group AB (publ.) org. nr. 556532-3929
Mobilvägen 10
SE- 223 62 Lund
Tel.: +46 46 540 12 00
About Anoto Group
Anoto Group AB is a global leader in digital writing solutions, which enables fast and reliable transmission of handwriting into a digital format. Anoto operates worldwide through a global partner network that delivers user-friendly digital writing solutions for efficient capture, transmission, distribution and storage of data. Anoto is currently in use across multiple business segments, e.g. consumer, healthcare, banking and finance, transportation and logistics and education. The Anoto Group has over 100 employees and is headquartered in Lund (Sweden).The company also has offices in Basingstoke and Wetherby (UK), Los Angeles and Boston (US) and Tokyo (Japan). The Anoto share is traded on the Small Cap list of Nasdaq Stockholm under the ticker ANOT.
For more information: www.anoto.com
Follow Anoto on Twitter at: @anoto
