DoubleDay Holdings, a private equity firm focused on emerging technology businesses, and Vision Objects , a privately-held firm specializing in handwriting recognition technology, announced today that DoubleDay will acquire all outstanding shares of Vision Objects. Financial terms of the acquisition were not disclosed.
Vision Objects develops and markets its proprietary MyScript technology, the most advanced and accurate handwriting recognition technology available on the market. MyScript has more than four million users worldwide with offerings in 87 languages. Founded in 1998, Vision Objects’ technology covers a broad spectrum of market applications including form processing, notes management, education, mobility & messaging, and automotive.
The acquisition of Vision Objects complements DoubleDay’s previous investments in digital writing that include ownership of ExpeData , a global leader in enterprise digital writing solutions, and significant share holdings in publicly-held Anoto Group , whose unique technology for digital pen and paper enables transmission of handwritten text into a digital format.
“We believe in the power of handwriting recognition technology and the benefits it delivers to education, consumer and business markets, and we consider Vision Objects an important player in the growth of digital writing,” said Paddy Padmanabhan, managing director of DoubleDay Holdings. “Vision Objects will provide us with the core competency needed to enhance our digital writing investment portfolio.”
Stefan Knerr, CEO of Vision Objects, said: “Joining forces with DoubleDay will allow Vision Objects to accelerate our innovation process and build on our global business momentum. We will be better able to leverage our expertise and deliver new handwriting recognition capabilities. As we serve our customers in all markets – from health care, financial services, transportation and education to the rapidly emerging e-devices market – Vision Objects will continue to innovate and work in close collaboration with our partners.”
Innovative technology developed by Vision Objects allows users to send paper-based messages and form data through mobile devices for a variety of business applications. In the automotive market, MyScript allows for simple, intuitive interaction with console touch pads and touch screen GPS devices. Also, MyScript opens up new opportunities in education with technology teachers can use to help children improve writing skills and language learning.
MyScript digital writing technology is compatible with all types of input devices including digital pens, interactive whiteboards, smartphones, Mobile Internet Devices (MIDs) and ebooks. The technology converts handwritten signals into text, shapes or diagrams, and provides a more natural user interaction with devices in the digital world.
As Vision Objects analyzes market trends and develops new concepts, the company will concentrate its efforts to make handwriting a natural method for groundbreaking input technologies.
About DoubleDay Holdings
DoubleDay Holdings is a private equity firm based in Dayton, Ohio. DoubleDay’s investment focus is on emerging technology businesses in new and established markets. The firm’s strategic investment portfolio in digital writing includes enterprise digital writing solutions, digital pen and paper technology, and handwriting recognition technology. DoubleDay’s focus areas include sectors such as information technology, advanced materials & manufacturing, biosciences and alternative energy.
About Vision Objects
Based in Nantes, France, Vision Objects’ mission is to develop and market accurate, high performance handwriting recognition software for any platform using handwritten data entry through pen-based user interfaces. Vision Objects is backed by XAnge, a leading venture capital firm based in Paris. Vision Objects provides the industry standard in handwriting recognition technology and text input methods. The company’s MyScript technology is available in a wide range of languages addressing market needs in the Americas, Europe and Asia Pacific.