[Public Notice+] Saltworks Secures Majority Shareholder Status in US Nasdaq-Listed Anoto Group

[Asia Economy Reporter Hyunseok Yoo] Saltworks, a KOSDAQ-listed company, announced on the 17th that it has secured the position of the largest shareholder in the Swedish company 'Anoto Group (ANOTO GROUP AB)', listed on the US NASDAQ, and is set to strengthen its EduTech business in earnest.

Saltworks disclosed that it will invest approximately 2.68 billion KRW in Anoto Group's paid-in capital increase yesterday. Through this capital increase participation, Saltworks secured a final stake of 18.8%, adding to the previously held 7.98% stake in Anoto Group, thereby becoming the largest shareholder.

Anoto Group is known as the first in the industry to commercialize Digital Pen and Digital Paper. After its overseas stock market listing, it was a global company with a market capitalization reaching 1 trillion KRW. Anoto Group is also the parent company of 'Knowledge AI Inc. (hereinafter KAIT)', an AI (Artificial Intelligence) solution development specialist located in Boston, USA. KAIT supplies its self-developed educational AI applications to public schools in Illinois and Texas.

Saltworks, which has been continuously exploring new businesses, previously secured a 16.67% stake in KAIT through investment with the purpose of entering the EduTech business, becoming the second-largest shareholder following Anoto Group.

A Saltworks official stated, "With this capital increase participation, we have secured the largest shareholder position in Anoto Group and invested directly and indirectly in Anoto Group’s subsidiary 'KAIT'. We plan to focus intensively on the AI-based EduTech business. KAIT’s online AI education solution has attracted significant attention in the US market since the beginning of the year, and demand has surged recently due to the global increase in interest in online education markets amid the COVID-19 pandemic."

The AI-based online education solution developed by KAIT and introduced to the US market had only 80,000 member students at the time of investment in November last year. However, it has recorded explosive growth, surpassing 720,000 members after being selected as the educational solution for middle and high schools by various state governments in the US.

This content was produced with the assistance of AI translation services.