Knowledge AI signs a two-year distribution agreement worth a minimum sales target of USD 6 million in the United Arab Emirates
Stockholm, April 6, 2021 – Anoto Group AB (“Anoto” or the “Company”) today announces that its education subsidiary Knowledge AI Inc. (“Knowledge AI”) has entered into a distribution agreement for its KAIT software platform with Emirates Artificial Intelligence Technologies LLC (“Emirates AI”) (www.EAIT.com) in the United Arab Emirates. Emirates AI will be responsible for the distribution of KAIT software in the UAE, which consists of seven Emirates including the Emirate of Dubai and the Emirate of Abu Dhabi. Knowledge AI and Emirates AI has agreed to a minimum sales target of USD 6 million over the next two years.
“Emirates AI Technologies is a very prominent and a powerful company in the UAE and we are privileged to be working with them. The UAE has always been a target market for us as the country is very serious about the AI technology. It is one of the few countries who established a dedicated Ministry of AI as well as the world’s first AI university, Mohamed bin Zayed University of Artificial Intelligence,” says Joonhee Won, CEO of Knowledge AI.
For further information, please contact:
Joonhee Won, CEO, Anoto Group AB
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 April 6, 2021 at 08:00 CET.
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 related software. These smartpens enrich the daily lives of millions of people around the world. Anoto currently has three main business lines: Livescribe retail, Enterprise Forms and OEM. Anoto also owns Knowledge AI, a leading AI based education solution company, as its majority-controlled subsidiary. Anoto is traded on the Small Cap list of Nasdaq Stockholm under ANOT.