Smart pen maker Livescribe is set to be bought by peer Anoto for $15m, providing an exit to Qualcomm, Sumitomo and others.
US-based electronic pen maker Livescribe, backed by wireless technology producer Qualcomm and conglomerate Sumitomo, is set to be acquired by its peer Anoto for $15m, TechCrunch reported today.
The cash deal is expected to close this month.
The acquisition is a low return on investment, as backers had provided approximately $100m.
Qualcomm participated in a $39m series C round in 2010, which also featured Presidio Ventures, an investment vehicle of Sumitomo, Crosslink Capital, which led the round, Scale Venture Partners,…
