InFocus and Proxima Close Merger Agreement; InFocus Corporation Emerges as Clear Leader in Fast-Growing Multimedia Projection Industry
WILSONVILLE, Ore.--(BUSINESS WIRE)--June 20, 2000--InFocus (NASDAQ:INFS) today announced that all conditions for closing the merger with Proxima ASA have been completed. The new company, named InFocus Corporation, is the world's largest developer, manufacturer and marketer of multimedia projection systems and services. Multimedia projection systems are designed to project graphics, audio, video and other data from PCs, video and DVD players as well as other digital and electronic devices. InFocus Corporation is uniquely positioned to exploit the tremendous growth opportunities in the global multimedia projections market which is currently growing at over 40 percent per year, according to estimates by the industry analyst firm Pacific Media Associates (PMA).
"We are very pleased that this merger between the two companies has been completed," said InFocus Corporation CEO John V. Harker. "We can now better focus on accelerating the growth of our core business as well as expanding into new and emerging, fast-growing markets."
Historical proforma financial information for the combined company can be accessed through the company's Web site at www.infocus.com (investor relations section).
InFocus Corporation will continue to be traded on the NASDAQ Exchange under the ticker symbol INFS. In addition it has applied for a secondary listing on the Oslo Stock Exchange, and expects the stock to be available for trading on that exchange within the next few days under the ticker symbol IFC.
InFocus Corporation (NASDAQ:INFS) is the worldwide leader in developing, manufacturing and marketing award-winning data/video projectors and services. The company's headquarters are located at 27700B SW Parkway Avenue, Wilsonville, Oregon 97070-9215. Call 800/294-6400 or 503/685-8888. Find InFocus on-line at www.infocus.com.
This press release includes forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties and several factors could cause actual results to differ materially from those in forward-looking statements. Investors are directed to the Company's filing with the Securities and Exchange Commission, including the company's 1999 Form 10-K, which are available from the Company without charge, for a more complete description of the risks and uncertainties relating to forward-looking statements made by the Company as well as to other aspects of the Company's business.
Linda Ferguson, 503/685-8870 (Editorial information)
Scott Hildebrandt, 503/685-8609 (Investor information)
Erin Findley, 415/808-9822 (Editorial information)