InFocus will be acquired by Image Holdings (IHC), a company founded and controlled by John Hui of eMachines. The deal will see an all cash tender offer amounting to about $39 million, after outstanding shares are purchased at 95 cents a piece.
Despite successes in the home theater realm in the past, the weak economy has forced InFocus to cut back on its home theater operations and focus on its core, corporate and institutional products. This, along with several top personnel leaving, left InFocus with few options. The deal to make InFocus a wholly-owned subsidiary of IHC is set to be finalized in the second quarter of 2009.