Industry veteran John Hui has acquired projector vendor InFocus for $39m (£24m).
The company, which had been struggling in recent months, will merge with holding company IC Acquisition Corp as part of a short-form merger before becoming a subsidiary of Hui’s company, Image Holdings.
"InFocus is a great brand and I assign significant value to the company’s extensive network of channel partners, innovative history and product leadership," commented Hui, who co-founded eMachines.
"I look forward to working with the management to return the company to a dominant position in the industry."
InFocus chief executive and president Bob O’Malley (pictured) believes the move will strengthen the company’s ability to compete. "Becoming a privately owned company will be good for InFocus’ customers, suppliers and employees.
"We will be able to shed the complexity of the public financial markets, prioritise longer term objectives and focus on what matters most to our customers."