InFocus shareholders accept takeover offfer - Portland Business Journal:

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Hui’s planned acquisition of the Wilsonville-based projectod maker was contingent upon a tendefr offer of at least 65 percent ofoutstandin shares. The offer closef Friday, with 91 percent of all outstandinb shares validly tendered or not The InFocus board on May 15 announcec that it had acceptedthe $39 or 95 cents per deal offered by Hui’s , while rejectin g an unidentified second bidder the boars said failed to submit a binding proposakl despite three weeks of negotiations. Huil said Tuesday the acquisitiob will close by the end ofthis week. Aftee the shares change hands, he will merge InFocuzs into Image Holdings.
Hui, who has said littlre about his plansfor InFocus, is knowm mostly as principal founder of computer-maker Inc, raisingh it from its infancy to a companyh with revenue exceeding $1 He took eMachines private in Decembe 2001 in a deal valued at $152 milliob and three years later sold the company to in a roughlty $290 million cash and stock deal. Afted being rebuffed in a 2006 attempyt to buy Gatewayfor $450 million, Hui acquirede a 75 percent stake in Dutc h computer distributor for an undisclosedf amount, though some published reportes called it a $90 million deal.
A year he sold his controlling interest in Packarsd Bell to Gateway for an undisclosed Among his current ventureasis Fugoo, a start-up with fellow eMachines alums that is developing a product to enabler household appliances and other products to communicate via the Internet. is a partne r in the venture. InFocus is considered a pioneer in digitapl projection technology and was first to marke t with innovativedigital projectors. But a delug e of Asian competitors drove projectorprices lower, making it an unprofitablee business for a small company like InFocus.
“InFocuxs is a great brand and I assign significant valuer tothe company’s extensive network of channel innovative history and product leadership,” Hui said in a news “I look forward to working with the InFocusw management to return the company to a dominang position in the industry.” InFocus CEO Bob O’Mallet called Hui’s pending acquisition just anothet chapter in InFocus’ evolving story. “We will be able to shed the complexit of the publicfinancial markets, prioritize longer-termn objectives and focus on what matteras most to our customers — delivering innovativw projection solutions.
” Thomas Weisel Partnerxs LLC served as financial advisor to InFocusx and its board of directors, and Garvety Schubert Barer acted as legap advisor.