Tobii prepares for Dynavox spin-off

Founded in 2001 and headquartered in Stockholm, Tobii consists of three divisions – Tobii Dynavox, Tobii Pro and Tobii Tech.  

The company’s board of directors said splitting the group into two parts – Tobii Dynavox and merging the other two divisions – would “accelerate the long-term business growth and success of both entities”.

Tobii’s group chief executive, Henrik Eskilsson (pictured), will step down from the role if the proposed spin-off goes ahead.

Eskilsson said: “We believe the time is right to create two separate publicly listed companies and enable increased focus on fulfilling their individual missions. I am pleased that we have reached the point where we are ready to take this step.”

Fredrik Ruben, division chief executive of Tobii Dynavox, is intended to lead Tobii Dynavox as a standalone company, and Anand Srivatsa, division chief executive of Tobii Tech, is the intended successor as chief executive of Tobii.

Tom Englund, division chief executive of Tobii Pro, is leaving the business. He will remain with the company until later in the year to support the transition.

The company intends to distribute and publicly list Tobii Dynavox in the fourth quarter of 2021. 

Kent Sander, chairman of the board of directors of Tobii, said: “The board of directors and management have for many years seen a split as a natural evolution of the company in order to maximise potential and long-term shareholder value. 

“Based on a show of strength throughout the pandemic, solid performance and outlooks for all businesses, our assessment is that the company is now ready for this next step.”