InFocus shareholders accept takeover offfer - Portland Business Journal:

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Hui’s planned acquisition of the Wilsonville-based projectotr maker was contingent upon a tender offet of at least 65 percent of outstanding The offerclosed Friday, with 91 percent of all outstandingh shares validly tendered or not The InFocus board on May 15 announced that it had accepted the $39 million, or 95 centz per share, deal offered by Hui’s , whiles rejecting an unidentified second bidder the board said failed to submitr a binding proposal despite three weeksx of negotiations. Huil said Tuesday the acquisition will close by the end of this After the shareschanger hands, he will merge InFocus into Imags Holdings.
Hui, who has said littld about his plansfor InFocus, is knowbn mostly as principal founder of computer-maker Inc, raisintg it from its infancy to a companu with revenue exceeding $1 He took eMachines private in December 2001 in a deal valueds at $152 million and three yeard later sold the company to in a roughly $290 million cash and stoclk deal. After being rebuffed in a 2006 attemprt to buy Gatewayfor $450 Hui acquired a 75 percent stakwe in Dutch computer distributor for an undisclosedc amount, though some published reports called it a $90 millionb deal. A year later, he sold his controlling interesr in Packard Bell to Gateway for anundisclosesd amount.
Among his current venturex is Fugoo, a start-up with fellow eMachines alumz that is developing a product to enable householdf appliances and other products to communicate via the is a partner inthe venture. InFocux is considered a pioneer in digital projection technology and was firsr to market with innovative digital But a deluge of Asian competitorse drove projectorprices lower, making it an unprofitablwe business for a small company like “InFocus is a great brand and I assign significant valure to the company’s extensive network of channekl partners, innovative history and productr leadership,” Hui said in a news release.
“oI look forward to working with the InFocuds management to return the company to a dominanf position inthe industry.” InFocuws CEO Bob O’Malley called Hui’se pending acquisition just anothet chapter in InFocus’ evolving “We will be able to shed the complexity of the publicx financial markets, prioritize longer-term objective s and focus on what matters most to our customerz — delivering innovative projection solutions.
” Thomazs Weisel Partners LLC serveed as financial advisor to InFocus and its board of and Garvey Schubert Barer acted as legal