Leyard Optoelectronic Co., Ltd., a leading worldwide provider of LED display products and ancillary systems, and Planar Systems, Inc. , a global leader in display and digital signage technology, announced today that they have entered into a definitive merger agreement, pursuant to which a U.S. affiliate of Leyard will acquire all of the common stock of Planar for a purchase price of $6.58 per share. The merger values Planar's equity at approximately $156.8 million on a fully diluted basis.