We believe that our investment in XMS Penvision will strengthen our global footprint in the enterprise digital writing market by offering two of the best software platforms for enterprise forms management.
Dayton, OH (PRWEB) October 12, 2011
Myrian Capital, a private equity firm focused on emerging technology businesses, and XMS Penvision, a privately-held firm specializing in digital pen and paper solutions leveraging Anoto® functionality, announced today that Myrian will become a major shareholder in XMS Penvision. Financial terms were not disclosed.
Founded in 2001, XMS Penvision is an experienced digital pen and paper platform provider working through a dedicated worldwide partner network. XMS Penvision offers the award-winning Penvision Formidable, a complete system for design, development, administration, printing and processing of digital pen and paper with the integrated routing software Penvision PenPusher. Additionally, XMS Penvision offers a wide variety of services to partners from training to professional services.
The investment in Sweden-based XMS Penvision complements Myrian Capital’s previous investments in digital writing that include ownership of ExpeData®, global leader in enterprise digital writing solutions, Vision Objects, provider of MyScript, the most advanced handwriting recognition software in the market, and significant share holdings in publicly-held Anoto Group, pioneering leader of digital pen and paper technology.
“We believe that our investment in XMS Penvision will strengthen our global footprint in the enterprise digital writing market by offering two of the best software platforms for enterprise forms management - Formidable from XMS Penvision and EDW® from ExpeData,” said Paddy Padmanabhan, Managing Director of Myrian Capital. “The depth and breadth of experience and knowledge of our holding companies in the digital writing investment portfolio will play a critical role in further accelerating the adoption of Anoto technology globally.”
Mats Beijer-Olsen, CEO, XMS Penvision, said: "Joining forces with Myrian Capital will allow XMS Penvision to further enhance our innovation process and build on our global business momentum. We will continue to work in close collaboration with our valued partners to increase market penetration and serve our customers in several verticals such as healthcare, financial services, and field services."
Commenting on the announcement, Stein Revelsby, CEO, Anoto Group AB said, “Our mission is to provide the easiest to use digital writing tool and to work closely with our partners who offer complete data capture solutions to enterprises. Myrian Capital’s investment in XMS Penvision strengthens our value chain and our ability to offer even better packaged solutions to end customers.”
About Myrian Capital
Myrian Capital is an investment management firm affiliated with the Mathile Family and located in Ohio (Dayton Region). Myrian investments include applied technologies in advanced media, video communications and advanced digital input. Myrian investments are more than financial assets…they are our partners. Myrian collaborates with investors and management teams to provide strategic support, resources and a practical formula for success. For more information, visit http://www.myriancapital.com.
About XMS Penvision
XMS Penvision, founded 2001 in Sweden, is an experienced digital pen & paper platform provider working through a dedicated worldwide partner network covering more than 35 countries. The main product, Formidable, is an enterprise digital pen & paper platform enabling Anoto functionality targeting partners with various vertical market focus. Formidable is a complete platform for design, administration, printing and processing of digital pen and paper forms with the integrated routing software PenPusher. The Formidable platform was awarded a Golden Pen Award for the Most Innovative Solution from Anoto. XMS Penvision has been partner to Anoto and VisionObjects since the beginning 2001 and has achieved Platinum status with both companies. For more information, visit http://www.penvision.com.
For more information, contact:
Director of Marketing and Corporate Communications
+46 (0)708 800 400