Leyard reinforces its presence in the LED screen market with the purchase of Planar Systems

After the transaction, Planar Systems will operate as an independent company under the Leyard umbrella. For this last, The acquisition means expanding the offer of LED display solutions and its presence outside the Chinese market.

Leyard Optoelectronic y Planar Systems have reached a merger agreement, under which a U.S. affiliate of Leyard will acquire all of Planar's common stock for a purchase price of 6,58 dollars per share. The transaction, which is expected to be completed in the fourth quarter of 2015, is subject to closing conditions, including shareholder approval of both companies and government antitrust clearance.

Gerry Perkel, President and CEO of Planar, explains the benefits offered by this transaction that “will provide our investors with a premium of 42% in the market based on our latest closing price and will allow us to grow our business and continue to innovate”.

This operation will allow Leyard to expand its range of LED display solutions and strengthen its presence outside the Chinese market.. Planar's executive team will remain with the company and the company will continue to operate as an independent entity under the Leyard umbrella once the transaction closes..

“We believe that Planar and Leyard complement each other and that this acquisition will create significant synergies. We intend to support the continued growth of the Planar company, with independent management, under the broad umbrella of Leyard. “This acquisition demonstrates Leyard’s continued commitment to expanding its global presence.”, Clarify Victor Li, president of Leyard.