Neonode to explore strategic alternatives for user-interface patent and licensing subsidiary

SANTA CLARA, USA: Neonode Inc., the optical touch technology company, announced that its Board of Directors has authorized the exploration of strategic alternatives with respect to its user-interface patent and licensing

subsidiary.

This unit's intellectual property portfolio principally relates to user-interface gestures utilized in a touchscreen. The Board intends to consider a broad range of alternatives including, but not limited to, a merger, sale, or spin-off.

"The board of directors and management team are committed to further enhancing value for all Neonode shareholders," said Per Bystedt, chairman of the Board.

"The user interface is an increasingly important strategic part of any device using a touch screen. Neonode is a pioneer in the touch screen user-interface area, and over the last 12 years, has built up significant IP, software and know-how in this field. We think that a more dedicated focus on the development and monetization of this IP would be beneficial for our shareholders," said Thomas Eriksson, Neonode's CEO.

The company noted that there could be no assurance that the board's evaluation process will result in any transaction, or that any transaction, if pursued, will be consummated.