Anima AB was sold to Spanish Festina after getting in bankruptcy process.

Anima AB, a Malmö, Sweden, based manufacturer of smartwatches, announced that it was entirely acquired by the Spanish Festina Lotus SA.

The agreement involves the acquisition of assets and intellectual properties, including the hybrid watch brand Kronaby, from the Bankruptcy Estate of the company Anima AB. Anima AB filled for bankruptcy in 2018.

The acquisition, subject to certain conditions, is expected to be finalized in March 2019. Several of Anima/Kronaby functions and operations will be integrated into Festina Group. The ten-person Research & Development team focusing on Application, Cloud and Analytics development will remain in Malmö. The acquisition has been conveyed by Trägårdh’s law firm, Malmö, Sweden.

Anima, founded in 2015 as a joint venture with a EUR 10M investment from Goertek together with former employees from Sony Mobile, designs, develops, manufactures, markets and distributes the hybrid smartwatch brand Kronaby. The company launched the Kronaby watches in 2017.