Just over a month ago Planar engaged an investment banking and asset management firm with instructions to sell its Coolsign division.
Planar remember is primarily a high end screen manufacturer (and very much struggling itself at the moment) but in July 2006 it bought itself into the software arena with the acquisition of Clarity Visual Systems (Coolsign) for the not insignificant sum of USD 46 million in cash and Planar stock.
Coolsign is not surprisingly running at a loss at the moment but has revenues of USD 6.6 million. The folks looking after the fire sale are looking for a price of 3 times revenue – i.e. USD 20 Million or so.
We doubt if there will be many takers even at that price.