Image Holdings Corporation (IHC) has acquired InFocus, a digital projector company. IHC was founded by eMachines co-founder John Hui. InFocus was getting closer to bankruptcy by the time IHC acquired them. IHC paid about $0.95 per share to buy the projector company.
The $0.95 per share is a 36% premium above the closing price of their stock price on Friday, giving them a market cap of about $26.5 million. InFocus lost about $13.1 million in the fourth quarter of 2008 on revenues of roughly $51.4 million.