Around the Net
Smart Pen Company Fetches $15 Million
- TechCrunch, Friday, November 6, 2015 5:24 PM
The writing is on the wall for more consolidation in the world of startups… both literally and figuratively. Today Anoto, a digital writing company based out of Sweden, announced that it would acquire longtime partner Livescribe, another a smart pen maker, for $15 million in a deal that is expected to close this month. Specifically, Anoto says this is an all-cash deal and is based upon an enterprise value of $15 million “equal to estimated annual sales for 2015.” This is a bargain of sorts, but a poor return for investors: Oakland-based Livescribe, founded in 2007, had raised at least $68 million from backers like Qualcomm, Crosslink Capital and Scale Venture Partners.
