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Home»Mobile Phones»Samsung agrees to acquire HARMAN, a car infotainment and audio company
Mobile Phones

Samsung agrees to acquire HARMAN, a car infotainment and audio company

TA - StaffBy TA - StaffNovember 14, 2016No Comments2 Mins Read
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Samsung Electronics has agreed to acquire Harman International Industries Inc. in an all-cash transaction. Both the companies have entered into a definite agreement where Samsung will acquire HARMAN for $112 / share or a total equity value of about $8.0 Billion.
HARMAN is known for designing and integrating high end in-vehicle Audio Technologies. Samsung already has expertise in making displays, connectivity and processing solutions. HARMAN’s close proximity with most auto makers and Samsung’s expertise together could result in more sales figures.
For those who are unaware, HARMAN’s have clocked in about $7.0 Billion of sales in last 12 months of which 65% comes from Automative products. Moreover, company has a backlog of $24 Billion to boot with.
To jock up your memory, you might have have heard about Harman/Kardon speakers and headphones, that’s one of those companies. It is also responsible for licensing Bang & Olufsent, Bowers & Wilkins, JBL, AKG etc.
HARMAN delivers infotainment products, cyber security and OTA updates. It subsidiary company has also delivered Audio Systems to array of car makers including Mercedes, Jaguar, Bentley, Audi, Porsche etc.
harman-logo-1With this acquisition, Samsung also hopes to expand its B2B platform by delivering large-scale audio and visual professional solutions for Stadiums, Concert facilities and other performance centers.
The Samsung Electronics will gain access to HARMAN’s 8000 software designers and engineers. The Korean giant plans to deliver next-gen cloud and enterprise and consumer experiences.
Samsung has confirmed that HARMAN will operate as a standalone Samsung Subsidiary and will retain current management team, lead by Dinesh Paliwal. There are chances that we could see HARMAN’s audio in upcoming Galaxy S8 smartphone.
The transaction is expected to close in Mid 2017 and is subject to approval by HARMAN shareholders, regulatory approvals and other customary closing conditions. To end it, the Deal has been approved unanimously at a 28% premium on stock price, as on November 11th.

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