BEAVERTON, Ore.--(BUSINESS WIRE)--Nov. 27, 2015--
Planar Systems, Inc. (Nasdaq: PLNR), a global leader in display and
digital signage technology, announced today that it has closed its sale
to Leyard American Corporation, a subsidiary of Leyard Optoelectronic
Co., Ltd., which designs, produces, and distributes a range of LED
display products and its ancillary systems.
As previously announced on August 12, 2015, Planar and Leyard entered
into a definitive merger agreement, pursuant to which Leyard American
Corporation agreed to acquire all of the common stock of Planar for a
purchase price of $6.58 per share.
Planar has requested that The Nasdaq Stock Market LLC suspend trading
and delist Planar common stock in connection with the closing of the
BofA Merrill Lynch served as financial advisor to Planar and Roth
Capital Partners, LLC served as financial advisor to Leyard. Perkins
Coie LLP provided legal advice to Planar and Shearman & Sterling LLP
provided legal advice to Leyard.
Planar, Inc. (Nasdaq: PLNR) is a global leader in display and digital
signage technology, providing premier solutions for the world’s most
demanding environments. Retailers, educational institutions, government
agencies, businesses, utilities and energy firms, and home theater
enthusiasts all depend on Planar to provide superior performance when
image experience is of the highest importance. Planar video walls, large
format LCD displays, interactive touch screen monitors and many other
solutions are used by the world’s leading organizations in applications
ranging from digital signage to simulation and from interactive kiosks
to large-scale data visualization. Founded in 1983, Planar is
headquartered in Oregon, USA, with offices, manufacturing partners and
Leyard Optoelectronic Co., Ltd. designs, produces, and distributes a
range of LED display products and its ancillary systems worldwide.
Leyard offers indoor, outdoor, fixed and creative LED displays that are
used in various applications, such as sports, advertisement, concerts,
shopping malls, stadiums, exhibitions and other indoor and outdoor
events. It also rents LED displays. Leyard was founded in 1995 and is
headquartered in Beijing, China.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151127005311/en/
Source: Planar Systems, Inc.
Planar Systems, Inc.
Ryan Gray, (503) 748-8911