Last year, Anzyz Technologies traded for just over a million and went roughly in zero. Now the artificial intelligence company in Grimstad is priced at over 100 million. Next year it can be double. (11.20.2018)
- We are now finally in a phase where we not only engage in research and development,
but production, says Per Morten Hoff (62).
The former Secretary General of the industry organization ICT-Norway joined the board of Grimstad company Anzyz Technologies in the new year. The company is based on a computer program developed by professor of artificial intelligence Ole-Christoffer Granmo (44) at the University of Agder, who will be able to read and interpret text in all languages.
200-300 million next year? During the year, the company carried out two capital acquisitions; the last one earlier this month with a pricing of the company of NOK 100 million.
Among other things, four companies in the environment around Sandnes Investering, that is, among others the Skagenfondene founders Kristoffer Stensrud and Åge Westbø, have bought up to a total of 12-13 per cent of the shares in the company.
- It was very easy to get with investors. We have not used any facilitators, but only approached existing shareholders who know us, says Per Morten Hoff.
The last share issue was just over NOK 5 million. The company is now planning a major share issue of NOK 70–90 million during the first half of next year. DNB is hired in and Hoff suggests a price of NOK 250-300 million. In that case, it would say that Professor Granmo's shares, which at the last issue was worth almost NOK 50 million, will be more than doubled in value.
"This is of course something we are discussing with the facilitators, but it is obvious that pricing will be considerably higher, among other things because we have now entered into several larger and very exciting contracts that can become the really big breakthrough for us," says Hoff.
- What kind of contracts is this?
- I am not allowed to say with whom or the value of the contracts. But one is in offshore where we are going to go through service logs related to the operation of rigs. Downtime for a rig is very expensive, and we will analyze huge amounts of structured and unstructured data with a view to reducing downtime. The second contract has been signed in Sweden and is about finding information quickly and securely as a basis for decision-making for doctors in hospitals. We are also working with the consulting company Capgemini to test our technology at a customer. It can be very exciting if we get into that system, says Hoff.
- We are optimists, but so take time to go from research to signing contracts and gaining income. We are often faced with skepticism. Many people do not think our technology can deliver what we say. Thus, we have to use a lot of resources to prove that what we say is correct, says Hoff who is now working on hiring many more at the company's office in Grimstad.
- We must hire people in both project management, sales and marketing. But while the IT industry generally struggles to get hold of people, we have good intentions, among other things thanks to the university educating lots of good people in artificial intelligence, says Hoff.
Text: Harald Berglihn
Photo: Elin Høyland.
Read the full article in DN here .