SUNNYVALE, Calif., Sept. 8 /PRNewswire/ -- Parascript, LLC, announced
today that it is spinning off its Pen&Internet subsidiary to merge with
EverNote, LLC. The new entity will be called EverNote Corporation.
The new combined business will be a privately-held company, headquartered
in Sunnyvale, CA, with a R&D Center in Moscow, Russia. EverNote Corp. will
build on Pen&Internet's expertise in handwriting recognition and electronic
ink technologies, as well as EverNote's unique database and AI technologies.
EverNote Corp. will focus its efforts on a new flagship software product,
EverNote 1.0, a complete note management solution. The company will also
continue to develop and sell its industry leading handwriting and forms
recognition software products, which have seen strong acceptance by OEMs,
system integrators and corporate customers.
Dr. Stepan Pachikov, the founder of EverNote and its predecessor
ParaGraph, and a co-founder of Parascript, has been named CEO and President of
the new entity. Aron Katz, a major shareholder of Parascript, has been named
Chairman of the Board of EverNote.
"I've been a longtime evangelist of and investor in Russian rooted
technology companies," said Mr. Katz. "Working with this core team for more
than 15 years has brought me not only much reward and successes, but also a
deep respect for the evolution of their technology portfolio and expertise in
mobile computing. I look forward to a productive and prosperous next chapter
Dr. Pachikov is introducing EverNote 1.0 today at the DEMOmobile
conference in La Jolla, CA.
"Dr. Pachikov's vision for a personal content management solution is a
natural next phase for the team, building on Pen&Internet's deep expertise in
the mobile market," said Jeff Gilb, President and CEO of Parascript. "The
merger will enable the new company to focus on developing EverNote into a
EverNote 1.0 is designed to give busy professionals and consumers an easy
to use yet powerful application to host all types of notes and information,
from Web clips to emails, documents and handwritten notes -- and make them
instantly accessible at anytime, in any place.
"People need to memorize numerous bits and pieces of information every day
-- and must find them many months later," said Dr. Pachikov. "Bringing to life
our long-standing vision, we are excited that digital ink and recognition
technologies find its natural place in a mass market application and add to
EverNote's unique and universal usability."
About Parascript, LLC
Parascript's Total Recognition technology converts paper-based information
into computer-usable data. It is one of the first complete technologies that
recognizes all character types -- cursive, handprint and machine print -- on
all forms. Total Recognition technology is available via a number of channels:
as software development kits, through Parascript's on-line services, through
onsite custom solutions, and from Parascript's partners. Please visit
www.parascript.com for more information.
About EverNote Corporation
EverNote Corporation is a provider of advanced note management, electronic
ink and forms recognition software for the mobile and wireless markets.
Headquartered in Sunnyvale, CA, with an office in Moscow, Russia, EverNote has
advanced engineering and R&D teams with over 135 years combined experience in
these technologies. Please visit www.evernote.com for more information.
EverNote Corporation, EverNote and Pen&Internet are trademarks of EverNote
Corporation. All other trademarks and trade names previously cited are hereby
acknowledged as the property of their respective owners.
SOURCE EverNote Corp.