as informed in Samsung Electronics has completed its acquisition of Harman, a connected car components maker.
Harman’s smart car technology appears to dovetail with Samsung’s emerging technological pursuits.
The purchase was first announced last autumn, signalling a significant investment into the smart car market for Samsung.
The deal was valued at approximately $8 billion dollars; in announcing its completion, Samsung says the deal has ultimately seen payouts to Harman shareholders of $112.00 per share.
Commenting on the deal’s closure in a statement, Samsung Electronics President Young Sohn his company sees “transformative opportunities in the car – and a future which seamlessly connects lifestyle across automotive, home, mobile and work.”Sohn is now the Chairman of Harman’s board of directors, with the company proceeding as a standalone subsidiary of Samsung.
Samsung Electronics Completes Acquisition of HARMAN – Samsung Global Newsroom
More than 25 million automobiles on the road today are equipped with HARMAN audio and connected car systems.
Corporate > Corporate OthersPress Resources > Press ReleaseSamsung Electronics today announced it has completed the previously announced acquisition of Harman International Industries, Incorporated (“HARMAN”).
Samsung is retaining HARMAN’s work force, headquarters and facilities, as well as all of its consumer and professional audio brands.
Samsung provides HARMAN with the scale, platform and complementary technologies to accelerate growth and extend our global market leadership in automotive, smart audio and connected technologies.
HARMAN will operate as a standalone Samsung subsidiary, overseen by a Board of Directors led by Mr. Sohn.
collected by :Molly Tony