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News Breaks | | | | November 30, 2012 | | 09:00 EDT |  | PLNR | Planar Systems announces sale of EL display business to Beneq Oy
Planar Systems announced the sale of its electroluminescent display business to Beneq Oy, a supplier of production and research equipment for advanced thin film coatings. Under the terms of the transaction, consideration consists of a $6.5M base purchase price, of which $3.9M was paid in cash at closing and $2.6M was paid in the form of a promissory note. The transaction terms also provide for up to $3.5M in possible additional cash consideration which can be earned in calendar years 2013, 2014, 2015 based upon the EL business achieving certain financial results. | |
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