harman

Originally announced back in November, Samsung has officially closed the deal in acquiring Harman International Industries, Incorporated for $8 billion and sets its eyes on the direction of vehicles. Harman is the company behind numerous audio companies like AKG, Harman Kardon, and JBL as well as a lineup of connected automotive technologies. Although it is rumored that the upcoming Galaxy S8 will feature audio from Harman, the acquisition was made mainly to build on its portfolio for connected cars rather than for their smartphones. The merger agreement dictates that Harman stockholders will receive $112 per share in cash. Samsung’s and HARMAN’s leadership in these spaces perfectly positions Samsung to be the preferred partner to our OEM customers, said Young Sohn, President and Chief Strategy Officer of Samsung Electronics, and Chairman of the Board, Harman. Samsung Electronics and Harman International Industries, Incorporated has announced that they have entered into a definitive agreement under which Samsung will acquire Harman to accelerate growth in automotive and connected technologies. Harman International Industries, Incorporated is an American company known for its connected car solutions, with more than 30 million vehicles currently equipped with its connected car and audio systems, including embedded infotainment, telematics, connected safety, and security. Read more in our articles including "Samsung officially buys Harman International for $8 billion" and "Samsung to acquire Harman for $8 billion".