- InFocus Corporation has entered into a definitive merger agreement with Image Holdings Corporation (IHC), an Oregon company controlled by John Hui, an accomplished entrepreneur and co-founder of eMachines. Under the terms of the agreement, IHC and its wholly owned subsidiary, IC Acquisition Corp. (IC), will make an all-cash tender offer to acquire all outstanding shares of InFocus stock.
- The Board of Directors unanimously recommends that InFocus shareholders accept and tender their shares into the offer. The offer and a subsequent merger that will result in InFocus becoming a wholly owned subsidiary of IHC are expected to close in the second quarter of 2009.
- “I am very excited to become involved with InFocus and to assist in further positioning the company for its long-term potential,” says Hui, the controlling shareholder in IHC.
