Logitech to Transition Digital Writing Business to Destiny
FREMONT, Calif. and ROMANEL-SUR-MORGES, Dec. 20, 2007 — Logitech International (SWX: LOGN) (Nasdaq: LOGI) today announced plans to transition its digital writing business to Destiny Wireless plc, a U.K.-based leader in the delivery of digital pen and paper technology to the business market, and a leading reseller of the Logitech io2 Digital Writing System.
Destiny has purchased Logitech’s digital-writing technology assets for an undisclosed amount. Logitech will manufacture the digital pen for Destiny until the company transitions to its own manufacturing. Destiny plans to make the digital-writing pens and supplies available to existing Logitech solution providers and individual customers through resellers and its own Web site.
During the transition, Logitech will continue to sell its io2 Digital Writing System, as well as paper and ink refills, as long as supplies last. Logitech will provide support to its digital writing customers while their products are under warranty.
The io2 Digital Writing System is based on technology developed by the Swedish-based Anoto Group, with whom Destiny has licensing and distribution agreements. A range of companies have created custom solutions for the pen to address industry-specific and vertical applications.
“We are pleased that the digital writing market will continue to be served by Destiny,” said Rory Dooley, senior vice president of Logitech’s control devices business. “While the digital writing category is not central to our strategic product direction, we believe in the promise of digital writing and look forward to continued innovations in the market as Destiny expands its business.”
“Destiny is committed to the Anoto technology and to building upon the Logitech digital writing solution for the many organizations around the world who gain productivity and efficiency from this technology,” said Edward Belgeonne, founder and chief executive officer of Destiny. “The Logitech io2 Digital Writing System has been a key component in our innovative, cost-effective solutions for mobile workers in healthcare, government agencies and many other organizations throughout the U.K. and in parts of Europe, Africa and Australia.”
“Logitech has made tremendous strides in opening the market for digital pen and paper solutions and we are excited that Destiny plans to carry the market forward,” said Anders Norling, Anoto Group chief executive officer. “We are convinced that Destiny, with its focus and commitment on complete productivity solutions for the mobile workforce, will further strengthen our ability to meet and support the growing demand for digital pen and paper solutions worldwide.”
Logitech is a world leader in personal peripherals, driving innovation in PC navigation, Internet communications, digital music, home-entertainment control, gaming and wireless devices. Founded in 1981, Logitech International is a Swiss public company traded on the SWX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).
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