Swedish eye-tracking firm Tobii eyes listing of Dynavox division
29/04/2021 07:15
STOCKHOLM, April 29 (Reuters) - Swedish eye-tracking
technology firm Tobii AB TOBII.ST said on Thursday that it
plans to spin off and list its Dynavox division on the stock
market in the fourth quarter.
Tobii Dynavox, which makes assistive technology for
communication, delivered sales of 894 million crowns ($107.4
million) last year and posted an operating margin (EBIT) of 14%.
Tobii, which has invested heavily in its unit Tobii Tech,
said synergies between Dynavox and the other divisions gradually
diminished and are now very limited.
"If preparation activities and market conditions permit, the
intent is to distribute and publicly list Tobii Dynavox in the
fourth quarter of 2021," the company said in a statement, adding
that Tobii shareholders would receive shares in proportion to
their shareholding in the group.
Chief Executive Officer Henrik Eskilsson plans to step down
if the proposed spin-off takes place, the Swedish company said,
adding that he will then be succeeded by the head of Tobii Tech
Anand Srivatsa.
Tobii, which said it would provide an update on preparations
in connection with second-quarter results, added that there was
no guarantee that a final decision for a distribution and
listing of Tobii Dynavox would be taken.
($1 = 8.3269 Swedish crowns)
(Reporting by Helena Soderpalm, Editing by Sherry
Jacob-Phillips)
((helena.soderpalm@thomsonreuters.com; +46 8 700 10 15; Reuters
Messaging: helena.soderpalm.reuters.com@reuters.net))