NeoMedia Sells Off Subsidiaries


NeoMedia is selling off its subsidiaries to focus on its Qode product line, in a bid to stem its losses ($29 million net loss for the 3rd quarter). “The company jettisoned its Mobot subsidiary, selling the Lexington, Mass.-based mobile marketing company back to its founders. NeoMedia will retain an 18 percent stake in Mobot, which it acquired earlier this year for $10 million.” Last month it sold Sponge back to its founders, and it also plans to sell its micro paint repair company.
It will focus on its Qode product line, a barcode system which allows camera phone users to take a picture of an image and transmit the photo to receive mobile content or access a wireless Internet site.
Russell Buckley has posted on a speech by Martin Copus of NeoMedia on barcode technology…”In Japan, 75% of people have interacted via a Smart Code and 90% of the under 20’s


leo fish

I bet NeoMedia is keeping their only profitable subsidiary…the one that that auto body paint detailing….

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