LUND, Sweden, Sept. 30, 2002 (PRIMEZONE) -- Anoto (Stockholm:ANOT) and Hitachi Maxell Ltd., a world leader in electronics and storage products, have signed a license agreement to manufacture digital pens enabling Anoto functionality. Hitachi Maxell will ship a digital pen in Japan during Q2 2003. Anoto will receive NRE (Non-Refundable Engineering) revenues of MSEK 6, for the first digital pen based on Anoto's second generation pen platform. The main Anoto revenue, over time, is royalty per pen.
Hitachi Maxell, with expertise in designing and manufacturing of electronic devices, optical components, battery, advanced packaging technology and Bluetooth modules, will develop, manufacture and market digital pens enabling Anoto functionality to OEM customers. Digital pens will be sold under several brands for different applications of Anoto functionality targeting both consumers and businesses. The first product will be based on the Anoto pen platform 2.0 and enabled for Bluetooth and USB communication. The pen platform can be used with mobile phones as well as PC's.
"Japan is a very important market and we consider the fact that Hitachi Maxell now will develop and manufacture a digital pen as an important breakthrough. Our relation with Hitachi Maxell will be key to our success in Japan and it could also expand globally. Shipments of the first digital pen will start, together with our Japanese partners, in Q2 next year, but we see the relation extending to a long term strategic cooperation including technology development," said Christer Fahraeus, CEO at Anoto Group AB.
"We are very excited about the Anoto functionality and we see this as a long-term relationship. We believe this will become one of the best electronic devices manufactured by Hitachi Maxell. The intent is also to initiate development of a digital pen enabling Anoto functionality aiming to over time significantly reducing the size and cost of the pen," said Atsumi Watanabe, Senior Executive Managing Director/General Manager Development and Technology Division at Hitachi Maxell, Ltd.
"It is too early to determine the size of future royalty incomes generated by the agreement, but the Japanese market may very well be one of the most important for us and Anoto's revenues in the medium and long term," concluded Christer Fahraeus.
For more information please contact:
Christer Fahraeus Charlotte Laveson CEO Director PR Anoto Group AB Anoto Group AB +46 733 45 12 05 +46 733 47 86 20
Hitachi Maxell, Ltd.
Since Maxell's establishment in 1961, they have developed and introduced products in three fields: Data, Energy, and Sound and Vision. As a result, Maxell was able to achieve fiscal 2001 (ended March 31, 2002) consolidated sales of 220,067 million yen (U.S. $1,652 million). In addition, Maxell has created a global network of operations to meet the demands of each market. Their many years of experience in the research and development of high quality products have led to a high level of customer trust in the Maxell brand. As Maxell continues to increase their intellectual and creative management efforts, the benefits to you, the user, will be numerous. Furthermore, Maxell is contributing to the advancement of society through the development and manufacture of key devices necessary for the multimedia age. Maxell's slogan, "Memory and Mobility," says it all. With Maxell's products, you are able to access and utilize information faster and easier. Hitachi Maxell is a subsidiary of Hitachi, Ltd headquartered in Tokyo, Japan. For more information on Maxell, please visit Maxell's Web site at http://www.maxell.com/
Anoto Group AB is a Swedish hi-tech company with unique solutions for transmission of handwritten text from paper to digital media, scanning of printed text and intelligent camera surveillance. All products are based on digital camera technology and image processing in real time. The Anoto Group today has three brand names: Anoto(R) - a comprehensive solution entailing paper, pen and server technologies, allowing us to connect all types of writing paper with the digital world, C-Pen(R) - a scanning pen that can store, interpret and transfer printed text, and WeSpot(TM) - a hardware and software platform for intelligent camera surveillance. The Anoto Group has around 300 employees, offices in Lund (head office), Stockholm, Boston, Tokyo and Hong Kong. Major shareholders are Ericsson, Capital Group and the founder Christer Fahraeus. The Anoto share is traded on the O-list, Attract 40 of Stockholmsborsen (Stockholm Stock Exchange) under the ticker ANOT. For more information: www.anotogroup.com
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