Medical flat-panel display supplier Planar Systems is planning a move into the diagnostic imaging display market. The Beaverton, OR-based firm has signed an agreement to acquire long-time imaging display provider Dome Imaging Systems in a deal valued at $61 million.
For Planar, the purchase will add imaging workstations to Planar's line of medical-grade display and workstation systems, according to the vendor. Planar expects to close the deal in mid-April.
Planar will pay cash for all of the capital stock in privately held Dome, and will assume all of the Waltham, MA-based company's stock options. The acquisition is valued at approximately 2.1 times Dome's 2001 revenues.
Planar said it will finance the transaction with a new $40 million senior credit facility and cash on hand. The transaction has been approved by both firms' boards of directors, and is subject to the approval of Dome shareholders, regulatory review, and other customary closing conditions.
By AuntMinnie.com staff writersMarch 19, 2002
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