Image Holdings Buys InFocus
InFocus Corp. announced Monday that it has reached agreement to merge with Image Holdings Corp., in a deal in which IHC will acquire all outstanding InFocus stock for $39 million. InFocus will become a wholly owned subsidiary of IHC.
“In addition to delivering compelling value to our shareholders, the partnership with IHC also creates clear benefits for InFocus customers, suppliers and employees,” Bob O’Malley, the president and CEO of InFocus, said as part of the announcement.
“John Hui understands the technology industry and will assist InFocus in the execution of its strategy. Operating as a privately held company is expected to reduce our costs and facilitate our ability to focus on longer-term priorities. While this is a very big step for InFocus internally, our commitment to delivering innovative projection solutions has not changed.”