Planar Sells Off Business Unit

Beaverton, Oregon-based Planar Systems said today that it has old off its electroluminescent (EL) display business, to Beneq Oy. The deal is worth $6.5M, split between $3.9M in cash and $2.6M in a promissory note. Planar also said the deal calls for up to $3.5M in additional consideration depending on financial results. Beneq Oy is a supplier of equipment for the thin film coatings business. Planar said the move adds cash to its balance sheet, and allows it to focus more on its digital signage and interactive display product lines.