Shares of Neonode (NASDAQ: NEON) climbed more than 25% in Friday’s morning session after the optical interactive sensing technology company announced an agreement in which it will supply its zForce AIR™ sensor modules to a U.S.-based automotive OEM for vehicle entry systems. The value of the contract exceeds $11 million over its term, which starts in the third quarter of 2017. NEON’s zForce technology, which is currently installed in over 1 million cars, powers the AirBar™ device that enables touch and gesture sensing to PCs and for automotive application.
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About Neonode
Neonode Inc. (NASDAQ:NEON) develops and licenses optical interactive sensing technologies. Neonode’s patented optical interactive sensing technology is developed for a wide range of devices like automotive systems, printers, PC devices, monitors, mobile phones, tablets and e-readers. NEONODE and ZFORCE are trademarks of Neonode Inc. registered in the United States and other countries. ZFORCE AIR and AIRBAR are trademarks of Neonode Inc. All other trademarks are the property of their respective owners. For more information visit www.neonode.com
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