Samsung acquire car tech company Harman for USD8 billion

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Samsung acquire car tech company Harman for USD8 billion

Samsung Electronics and Harman International Industries, Incorporated today announced that they have entered into a definitive agreement under which Samsung will acquire HARMAN for $112.00 per share in cash, or total equity value of approximately $8.0 billion.

“An M&A deal this big is a first for us. But it shows that under Jay Y. Lee, the company is changing and open to new ways to grow,” a source familiar with the deal told Reuters, referring to Samsung Electronics’ vice chairman.

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In addition, Harman is not only an auto make but also a pioneer in audio equipments. HARMAN’s leading brands and cutting-edge audio systems include JBL®, Harman Kardon®, Mark Levinson®, AKG®, Lexicon®, Infinity®, and Revel®. All of these brands will greatly enhance the competitiveness of Samsung’s mobile, display, virtual reality and wearable products to deliver a fully differentiated audio and visual experience for customers.

Harman CEO Dinesh Paliwal says that Samsung’s displays, connectivity and processing tech is a good fit with his firm’s automotive products. “Samsung is an ideal partner for Harman and this transaction will provide tremendous benefits to our automotive customers,” he said in a press release.

Perhaps we will see Samsung integrate the technologies from Harman to their smartphone to give us a better experience on audio soon.

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