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Electronics Production | February 28, 2007

Neonode only used SBE as a key to Nasdaq

Neonode recently acquired the American data storage firm SBE. Thereby Neonode Inc. got its ticket to the Nasdaq stock exchange but now SBE is up for sale again.
The newly appointed CEO at Neonode Inc. Mikael Hagman now wants to sell the recently acquired data storage firm SBE. “It is not the business in the company that Neonode were interested in but the listing on Nasdaq", said Neonode's CEO Mikael Hagman in a comment.

This Friday Mikael Hagman will take the position as CEO for Neonode Inc., succeeding Per Bystedt that now will take the position as Chairman for the company. Mikael Hagman announced for the local financial press that he is open for a concern structure with several different subsidiaries but that SBE is not interesting anymore.

"The memory business is about to be sold. Hopefully it will be finished during the second quarter", Mikael Hagman said in a comment.

The Swedish subsidiary, Neonode AB with its Managing Director Tommy Hallberg, still has its operations running. The company is focussed on developing mobile phones.

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