22 May 2008

ICON Corporate Finance advises the shareholders of Covelus Limited on its sale to Swedish company Anoto AB.

Covelus is a technology company based in Liverpool producing solutions for digital pen & paper and it owns a platform for a wide range of devices such as PCs, PDAs, mobile phones & access points, which routes digital pen stroke data to an end destination such as an email address or server.

In addition, it provides various enterprise server solutions to administrate routers, digital pens and applications, either hosted by Covelus, or owned outright by developers.

Anoto Group AB is the pioneering leader of digital pen & paper technology. Anoto technology optimizes paper-based processes by rapidly and reliably converting handwritten information from business forms into digital documents.

The Anoto Group has around 100 employees, offices in Lund, Boston and Tokyo.