On November 14th, according to Reuters, South Korea's Samsung Electronics announced on Monday that it agreed to acquire Harman InternaTIonal Industries for about $8 billion, a deal that will allow Samsung to expand its presence in the automotive electronics market.
Samsung issued a statement saying that it is expected that the cash requirement for the acquisition will be 28% higher than the closing price of Harman on Friday. Harman is a leading company in the field of IoT automotive solutions. In the past 12 months ended September 30, 2016, sales accounted for 65% of the automotive industry. In addition to the acquisition, Samsung will promote Samsung in IoT technology, especially automotive. Electronic development.
Oh-Hyun Kwon, vice chairman of Samsung, said: "HARMAN perfectly fills Samsung's vacancies in technology, products and solutions. The alliance between the two parties is a natural extension of the car development strategy we have been pursuing. "This acquisition will provide Samsung with 8,000 software designers and engineers from HARMAN dedicated to exploring the potential of the IoT market. In addition, Samsung has also acquired HARMAN's industry leading brands, including Harman Kardon, JBL, Mark Levinson, AKG, Advanced audio systems including Lexicon, Revel and Infinity.
After the deal closes, HARMAN will operate as an independent subsidiary of Samsung and continue to be led by the existing team. Samsung said it will continue to maintain HARMAN's office space, factory facilities, headquarters and all consumer and professional audio brands. The transaction is expected to be completed by the middle of next year.
Established in 1952, Harman International is headquartered in Washington, DC, with global sales of $4 billion in 2007, 1,200 employees worldwide, more than 40 factories and institutions throughout the Americas, Europe and Asia, and 16 industry legendary brands, New York. The company listed on the stock exchange is abbreviated as “HARâ€. The company focuses on the development and production of audio equipment. It has more than 20 brands. Harman Kardon, AKG, JBL, Bang & Olufsen, which we are familiar with, are sub-brands of Harman International Industries.
In addition to a large number of brands, Harman International's products are also very rich in form, from small headphones, to Blu-ray home theater, BMW X5 car audio, and digital signal processing and other industry-level applications. The area in which Harman Industrial Group is involved. At the business level, the biggest benefit of acquiring Harman International Industries for Samsung is to expand Samsung Electronics' product coverage.
Taking the automobile as an example, Harman Kardon’s car audio system has already reached cooperation with mid- to high-end automobile brands such as BMW, Mercedes-Benz, Chrysler, Subaru and Volvo. Samsung hopes to take advantage of the acquisition opportunity to develop and display its own 5G and UI. The screen, security and other services are combined with Harman's in-vehicle entertainment systems and other in-vehicle interconnection devices to grasp the trend of automotive intelligence.
In addition, Harman Kardon, JBL, AKG headphones, speakers have always been the best-selling brand. In addition to producing its own brand of audio equipment, Harman Group also licenses the brand to some OEMs and ODMs, so we can also see Harman Kardon on Samsung's cylindrical desktop ArtPC Pulse and HP Spectre x360 laptops. The trademark of Bang & Olufsen.
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