Samsung acquires Harman
Not long after releasing a desktop PC with an unusual (cylindrical) shape that features a big Harman Kardon speaker, the South Korean company has decided to acquire Harman International Industries entirely. Although the financial terms of such deals never become public, the official press release reveals these details - "$112.00 per share in cash, or total equity value of approximately $8.0 billion."
Harman is currently heavily involved in the automotive industry, with over 60 percent of its sales being related to this field. In the audio world, Harman Kardon is also a well-known brand, especially when talking about laptops and convertibles, but they also equip stadiums and concert facilities. Harman Kardon audio gear can also be found in various cars.
Once the deal closes, Harman is expected to turn into a standalone Samsung subsidiary, keeping its current management team. Fortunately for the fans of Harman's many brands, Samsung plans to retain all the work force and facilities of the company, as well as the consumer and professional audio brands.