LUND, June 27, 2013 —Anoto Group AB (publ.) today announced that it is re-sizing its Swedish operations into a research and design engineering business unit for hardware products and will consolidate other responsibilities with its international subsidiaries to reduce costs and increase operational efficiency. The reduction of employees in Lund will be up to 25 full-time staff and a number of external consultants. The net effect of the reorganization will be total annual cost savings of up to 20%.
Software development will be moved to Anoto UK, supply chain activities will be moved to China in close co-operation with Anoto’s existing contract manufacturing partners and Pen Generations in Korea. Going forward, the Anoto Lund organization will remain responsible for designing and developing the next generation hardware platform for Business Solutions as well as supporting OEM partners within voting, education and screen.
”As part of recent acquisitions in the UK, we are now able to develop software products directly in one of our key markets. Now our Swedish organization can focus on its proven core competencies; innovation in digital writing technologies,” says Stein Revelsby, CEO Anoto Group AB.
Anoto’s management will initiate negotiations with labor unions in July and expect a significant positive effect on cash flow from Q4.
For further information, please contact:
Stein Revelsby, CEO
Anoto Group AB
Tel: +46 (0)733 45 12 05
The information in this press release is published pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication at 12:15 CET on June 27, 2013.
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. healthcare, banking and finance, transportation and logistics and education. The Anoto Group has around 130 employees and is headquartered in Lund (Sweden). The company also has offices in Basingstoke, Guildford and Wetherby (UK), Amsterdam (NL), Boston (US) and Tokyo (Japan). The Anoto share is traded on the Small Cap list of NASDAQ OMX Stockholm under the ticker ANOT. For more information: www.anoto.com.