Planar Systems, a global leader in display and digital signage technology, announced today that it has closed its sale to Leyard American Corporation, a subsidiary of Leyard Optoelectronic Co., Ltd., which designs, produces, and distributes a range of LED display products and its ancillary systems.

As previously announced on August 12, 2015, Planar and Leyard entered into a definitive merger agreement, pursuant to which Leyard American Corporation agreed to acquire all of the common stock of Planar for a purchase price of $6.58 per share.

Planar has requested that The Nasdaq Stock Market LLC suspend trading and delist Planar common stock in connection with the closing of the merger.

BofA Merrill Lynch served as financial advisor to Planar and Roth Capital Partners, LLC served as financial advisor to Leyard. Perkins Coie LLP provided legal advice to Planar and Shearman & Sterling LLP provided legal advice to Leyard.