Crunchfish forms a wholly owned subsidiary for the Connected AR technology
Crunchfish forms a subsidiary for mobile proximity-based interaction for greater clarity towards customers and the capital market. The subsidiary will be wholly owned by Crunchfish AB. The organisational change will take effect at the turn of the year. The operations of Crunchfish’s newly formed subsidiary are to commercialise the patented Connected AR technology for mobile proximity-based […]
Crunchfish forms a subsidiary for mobile proximity-based interaction for greater clarity towards customers and the capital market. The subsidiary will be wholly owned by Crunchfish AB. The organisational change will take effect at the turn of the year.
The operations of Crunchfish’s newly formed subsidiary are to commercialise the patented Connected AR technology for mobile proximity-based interaction in identification, commerce and social applications. All activities in the Connected AR technology area, including the patent portfolio consisting of 17 patented inventions and 10 approved patents, will be transferred to the subsidiary at book value.
“By establishing our own affiliate business in Connected AR, we achieve greater clarity towards our customers and partners, which favours positioning and continued development and commercialisation of the company’s products,” says Joakim Nydemark, CEO of Crunchfish AB.
Crunchfish’s working chairman, Joachim Samuelsson, becomes the CEO of the subsidiary, which will initially have five full-time employees, including the company’s founder and CTO Paul Cronholm. The subsidiary will continue to utilize Crunchfish’s common resources in capital and market communications, IT, finance, administration and law and remain in Crunchfish’s premises at Media Evolution City in Malmö.
“In addition to achieving operational benefits, we also increase transparency by pushing down the business of Connected AR into a subsidiary. This will make it easier for the capital market and other stakeholders to analyse and understand our business, “says Joachim Samuelsson, Chairman of Crunchfish AB and future CEO of Crunchfish Connected AR AB.
Two companies, two technologies and two focus markets
The parent company, Crunchfish AB, provides technology for enterprise AR solutions in the form of efficient touchless interaction with gestures and contextual awareness that enables users to interact and manage information faster, easier and safer.
The subsidiary Crunchfish Connected AR AB will provide innovative proximity-based technology for integration into mobile applications in identification, commerce and social contexts, which creates faster, smoother and new forms of interaction in the physical space.
For further information, please contact:
Joakim Nydemark
CEO Crunchfish AB
+46 706 351 609, joakim.nydemark@crunchfish.com
Joachim Samuelsson
Working Chairman of Crunchfish AB and CEO of Crunchfish Connected AR AB
+46 708 464 788, joachim.samuelsson@crunchfish.com
About Crunchfish
Crunchfish develops and markets Augmented Reality technology for m-commerce and industrial and social applications. Our software Touchless A3D® makes it possible to control electronics with gestures and aBubbl® enables AR in any third-party application. Crunchfish’s technologies are licensed to both hardware manufacturers and application developers and are currently available in devices and applications from global players. Crunchfish is listed on Nasdaq First North since 2016. The company was founded in 2010 and is based in Sweden. Visit crunchfish.com for more information.
