Harman finally joins Samsung
At the end of last week, Samsung Electronics announced that the acquisition of Harman International Industries has finally met all the conditions needed to be complete. According to the official press release, Harman stockholders will receive $112 USD per share in cash, as previously revealed.
Harman's president and CEO Dinesh Paliwal thinks that "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." He also revealed that Samsung and Harman aim to work closely with automakers and other companies to "define – and drive – the future of automotive."
All the premium audio brands owned by Harman are now owned by Samsung as well, including AKG, JBL, Mark Levinson, and others. Harman will be delisted from the New York Stock Exchange starting today, continuing to operate as a standalone Samsung subsidiary. The company's workforce, headquarters, and facilities remain intact, next to its consumer and professional audio brands.