PEN signs distributor agreement with Deep Blue Technology

PEN Concept Group AB, ‘PEN’, has signed an agreement with Deep Blue Technology (Shanghai) Co., Ltd., ‘Deep Blue’ regarding distribution and installation of their “TakeGo” concept which enables totally unmanned shops. The agreement covers Sweden, Finland, Denmark, Norway, Poland, Germany, UK and USA.

The TakeGo platform developed by Deep Blue enables a 24-hour checkout-free shopping experience with totally unmanned shops. The concept is suitable for small to medium size operations within, among others, grocery, food & beverage and retail. PEN’s assignment is to market, sell and build the full turnkey solution for its customers.

Mr Johan Burtus, CEO at PEN Concept Group AB, explains further:
“We are very enthusiastic about this agreement with Deep Blue as their solution add significant value to a very competitive business segment. There is a clear trend towards these kind of self-service and check-out free shops in various industries and we believe we can help our customers to strengthen their positions within their specific markets. We believe that the TakeGo solution developed by Deep Blue represents the most advanced Artificial Intelligence solution and note further that it is backed by large scale and successful investors, including but not limited to, Alibaba and SoftBank.”

For any inquiry regarding this transaction, kindly contact:

Johan Burtus, CEO, PEN Concept Group AB

E-mail: johan.burtus@pen.se

Phone: +46 738 000 460

This information is insider information that PEN Concept Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication trough the agency of the contact person set out above, on July 27, 2017.

PEN Concept Group in brief

PEN Concept Group AB is a turnkey of interior and products for shops, exhibitions, events, restaurants and showrooms. The group runs its business through its Swedish subsidiaries PEN Interiör AB in Jönköping, PEN Shop Concept AB in Lerum and Goods Sweden AB in Växjö. In China, sales and manufacturing is located to Qingdao where the subsidiary Oboya Shop Concept Qingdao Co., Ltd. is located.

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