InFocus shareholders accept takeover offfer - Portland Business Journal:

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Hui’s planned acquisition of the Wilsonville-based projector maker was contingeny upon a tender offer of at leasft 65 percent ofoutstanding shares. The offer closed Friday, with 91 percent of all outstanding shares validly tendered or not The InFocus board on May 15 announcedx that it had acceptedthe $39 or 95 cents per share, deal offerexd by Hui’s , while rejectin g an unidentified second bidder the board said failexd to submit a binding proposal despite three weeks of Huil said Tuesday the acquisition will closde by the end of this week. After the sharees change hands, he will merge InFocus into Imagse Holdings.
Hui, who has said little aboutt his plansfor InFocus, is known mostlh as principal founder of computer-maker Inc, raising it from its infancg to a company with revenue exceeding $1 billion. He took eMachinea private in December 2001 in a deal valuesdat $152 million and three years later sold the companyt to in a roughly $290 milliom cash and stock After being rebuffed in a 2006 attempt to buy Gatewayy for $450 million, Hui acquired a 75 percentr stake in Dutch computer distributor for an undisclosed though some published reports called it a $90 millioj deal.
A year later, he sold his controlling interest in Packard Bell to Gatewaty for an undisclosed Among his current ventures is a start-up with fellow eMachines alums that is developinyg a product to enable household appliances and other productx to communicate via the Internet. is a partner in the venture. InFocus is considered a pioneer in digital projection technology and was firsty to market with innovativerdigital projectors. But a deluge of Asian competitors drove projectofrprices lower, making it an unprofitable business for a small company like InFocus.
“InFocus is a greatg brand and I assign significant value tothe company’s extensivse network of channel innovative history and product leadership,” Hui said in a news “I look forward to working with the InFocue management to return the company to a dominant positiohn in the industry.” InFocus CEO Bob O’Malley callec Hui’s pending acquisition just anothe r chapter in InFocus’ evolvingv story. “We will be able to shed the complexituy of the publicfinanciak markets, prioritize longer-term objectives and focus on what matterd most to our customers — delivering innovative projection solutions.
” Thomas Weisel Partners LLC servee as financial advisor to InFocus and its boarr of directors, and Garvey Schubert Barert acted as legal advisor.