Article: NeoMedia Technologies Announces 12snap Sale.

FT. MYERS, Fla., April 4 /PRNewswire-FirstCall/ -- NeoMedia Technologies, Inc. (BULLETIN BOARD: NEOM) , a global leader in mobile enterprise and marketing technology, announced today it has sold 12snap AG, a wholly-owned division of NeoMedia Mobile, to the company's management and Bernd M. Michael, a former shareholder, at a total purchase price of just under $5 million.

Under the agreement, the buyer will pay $1.1 million in cash at closing with another $500,000 in escrow to be paid within 90 days. Additionally, $2 million in seller's top-off costs will be waived. Also, the new owners will provide NeoMedia with 10 percent of 12snap's total stock, a $750,000 ...

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