Samsung Electronics announced on the 14th that it acquired Harman International Industries for $112 per share in cash, with a total turnover of $8 billion. The transaction is expected to be completed by the middle of next year.
It is reported that after the transaction is closed, HARMAN will operate as an independent subsidiary of Samsung and continue to be led by the existing team. The 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, Lexicon. Advanced audio systems including Revel and Infinity.
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