Planar Acquires Runco
Planar Systems, Inc. announced Wednesday that it has acquired Runco International, Inc. for $36.7 million in cash. Runco owns CineWide technology and Video Xtreme projection equipment as well as the Vidikron brand. Planar intends to expand the scope of its own brand as well as that of Runco and Vidikron moving forward.
Planar President and CEO Gerry Perkel said, “In combining Runco’s heritage and industry-leading home theater solutions with Planar’s global supply chain and broad display technology expertise, we have assembled some of the best talent in the industry to deliver the finest home theater solutions to an expanding global marketplace.”
Runco Founder and CEO Sam Runco added, “Planar brings substantial capabilities in specialty display technology beyond the home theater market and well-developed global operations and supply chain management. Most importantly, Planar has a company philosophy akin to what Runco has always stood for – excellence in technology, outstanding quality and service and dedicated focus to its custom channel partners. I believe this combination can not only continue the approach to the market that has made Runco a leader, but it will also create even better products and support to enable our channel partners expanded success in the market.”
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