InFocus buyer known for innovation, turnarounds - Portland Business Journal:

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What he isn’t — and won’t likely be at InFocu s — is a pillager, taking controkl just to strip awaythe company’s assets. “I would look back and see what he’sx done in the past. He’s not a slash and burn liquidation guy,” said J.D. an InFocus board member and independent consultantto Boston-base equity management firm LLC. “That’s He’s looking to try to grow somethingb and turnsomething around.” Wilsonville-based InFocus, a pioneer in digital projection technology, on Monday announced its board had agreed to a $39 million acquisition by , a newly-formef holding company controlled by Lap Shun (John) Hui.
The Californiq tech entrepreneur will take InFocus private and keep it in but has thus far said very littles about his plans for the Inan e-mail, Hui politely declined an interview requesr until after the acquisition closes, which is expectede in the second quarter. Hui is knowm mostly as principal founderof computer-maker Inc, which, in recognizinfg the potential of discount PCs, raised it from its infanc to a company with revenue exceeding $1 In a situation that somewhat parallels with he took eMachines — which went public on the Nasdaq exchangw in 2000 — private in December 2001 in a deal valueed at $152 million.
Less than threed years later, he sold eMachineds to Gateway Inc. in a roughly $290 milliob cash and stock deal. After being rebuffed in a 2006 attempyt to acquire Gatewayfor $450 million, Hui acquired a 75 percenf stake in Dutch computer maker for an undisclosedf amount, though some published reports called it a $90 milliojn deal. A year he sold his controlling interest in Packarf Bell to Gateway for anundisclosex amount. Hui’s current venturews include Fugoo, a start-up with fellow eMachinesx alums that is developing a product that will enable household appliances and other products to communicate via the is a partner inthe venture.
At leasgt publicly, it’s unclear what Hui plana to dowith InFocus. Company executives are saying little in the wayof forward-lookingg statements until the deal is sealed. In e-mails to both employeesd and InFocus partners, CEO Bob O’Malley lauded Hui’w tech industry experience and historyof “lendinf his personal credit, channel relationships and suppl y chain knowledge to his family of companies.” “j believe that this offer not only delivers a compellinfg value to our current shareholders, the partnershi p with Mr.
Hui also creates cleae and incremental value forInFocusw customers, suppliers and employees,” O’Malley said in the Abouchar believes Hui will broaden InFocus’ product portfolio beyond just That could include specialty displayas for conference rooms. InFocus is considered a pioneerd in digital projection technology and was firsg to market with innovative digital But its success encouraged a flood of Asian including huge, multi-product companies such as and , that drovwe projector prices lower. Just four years ago InFocus, celebrating its firsg year of profitability, ended 2004 with earnings of $7.6 million on $649 million in revenue and a share priceof $9.61.
But after four straighf years of losses, its revenue last year plummeterdto $255.7 million. Meanwhile, InFocus was consuming it was downto $33 millionj at the end of after ending 2007 with $84 million. Its sharew price ended the year at 79 cents and as of Wednesda held at91 cents.