Business Services Industry
Planar Systems Completes Acquisition of Clarity Visual Systems
Business Wire, Sept 12, 2006
BEAVERTON, Ore. -- Planar Systems, Inc. (NASDAQ:PLNR), a worldwide leader in specialty display solutions, today completed its previously announced acquisition of Clarity Visual Systems, Inc., a leading global provider of command and control digital displays and digital signage hardware and software systems.
Planar acquired all the outstanding stock of privately owned Clarity for $21.9 million in cash and approximately 1.8 million shares of Planar common stock. Planar also assumed all options to purchase Clarity stock outstanding at the effective time, which now represent options to purchase approximately 0.9 million shares of Planar common stock. As a part of the transaction, Planar will be assuming approximately $9.5 million of Clarity's outstanding debt net of cash.
About Planar
Planar Systems, Inc. (NASDAQ:PLNR) is a leading provider of valued-added display hardware and software for a variety of specialty display markets worldwide. Hospitals, shopping centers, banks, governmental agencies, and other discriminating consumers depend on Planar to provide unique display-based solutions to exacting requirements leveraging its operational excellence, technical innovation, and go-to-market capabilities. Founded in 1983, Planar is headquartered in Oregon, USA, with offices, manufacturing partners, and customers worldwide. For more information, visit www.planar.com.
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