Stockholm, November 5, 2019 – Anoto Group AB (Anoto) today announces that it has signed a three year licensing agreement worth USD 72,000 for its education solution KAIT with Shidae Injae (Shidae), one of the largest and fastest growing private education institutions in a highly competitive education industry in South Korea.
The contract was entered into between Anoto’s wholly owned subsidiary Knowledge AI, which markets and sells the education software platform, and Hiconcy Co. Ltd, which is the parent company of Shidae. Shidae will use KAIT to individualize education for its middle and high school students. For Anoto, this deal is significant as Shidae is the first customer to buy KAIT without first entering into a pilot agreement. Shidae is not affiliated with Time Education
“I am glad to see the first revenue for KAIT within two months of our commercial launch in August this year. This is a validation of our software’s value and the market’s urgent need for such software in the education industry,” said Joonhee Won, CEO of Anoto Group AB.
Shidae purchased licenses for 2000 students but is expected to purchase additional licenses and pens as they expand the usage of KAIT to more of its own student base.
“This is a truly revolutionary product and I believe it will change education forever. We are hoping that KAIT is going to be a distinct competitive advantage for us. We are happy to sign a multi-year contract to use KAIT,” said Jinseo Lee, Managing Director of Shidae.
For further information, please contact:
Joonhee Won, CEO
This information is information that Anoto Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 5 November 2019.
About Anoto Group
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 a cloud based software solution provider based on its patented dot pattern technology which provides a methodology for accumulating digital big data from analogue inputs. Anoto Cloud includes Anoto’s four solutions: KAIT – the world’s first AI solution for offline education; ACE – Anoto’s new and improved enterprise forms solutions; aDNA – Anoto’s secure interactive marketing solution; and Dr. Watson – Anoto’s biometric authentication and security solution. Anoto is traded on the Small Cap list of Nasdaq Stockholm under ANOT.