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9 months ago
BRIEF-Tobii proposes 450 mln SEK rights issue for investments in eye-tracking for VR and smartphones
November 7, 2016 / 6:17 AM / 9 months ago

BRIEF-Tobii proposes 450 mln SEK rights issue for investments in eye-tracking for VR and smartphones

Nov 7 (Reuters) - Tobii AB

* Says ights issue is carried out with intention of strengthening organization and investing in technology and market development in new volume markets for virtual reality ("VR") and smartphones

* Says to give Tobii increased financial flexibility to quickly carry out acquisitions

* Says "The interest for eye tracking in various consumer applications has developed at a substantially more rapid pace than we anticipated at the time of the IPO in April 2015"

* Says shareholders corresponding to approximately 40 percent of voting rights, have expressed their support for rights issue

* Press release - Tobii resolves on a rights issue of approximately SEK 450 million for large-scale initiatives on eye tracking in virtual reality and smartphones

* During a three-year period (2017-2019), and assuming the proposed rights issue, Tobii intends to invest approximately SEK 150 million (net cash flow) in VR

* During a three-year period (2017-2019) and assuming the proposed rights issue, Tobii intends to invest approximately SEK 150 million (net cash flow) in the smartphone area

* Acquisitions and additional opportunities: Tobii has, in addition to the above-mentioned initiatives, identified several potentially interesting acquisition targets within the three business units Tobii Dynavox, Tobii Pro and Tobii Tech Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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