Samsung Electronics announced yesterday that it has acquired Harman InternaTIonal Industries for $112 per share in cash. It is reported that the total turnover is $8 billion. 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.
What does Samsung like in Harman?
Founded in 1953, Harman International is one of the world's largest car audio OEM companies. In recent years, under the leadership of CEO Dinesh Paliwal, it has actively deployed to the automotive electronics industry, winning billions of dollars in contracts, including Large orders from General Motors and Fiat Chrysler and an estimated $24 billion in orders in the future, three times the company's annual revenue. At present, about two-thirds of the company's revenue comes from automakers.
Harman International spent $780 million last year to acquire software service company Symphony Teleca, which spreads its business to software development and manufactures the parts needed to make cars more like smartphones.
Harman International is a global leader in connected car technology known for its high-end multimedia, navigation and visual display systems. In the past year ended September 30, Harman International Group’s sales amounted to $7 billion, and the outstanding orders as of June were approximately $240. More than 30 million vehicles worldwide are equipped with Harman systems, and the company has established partnerships with top automakers such as BMW and Mercedes.
Currently, Harman is principally engaged in the design, engineering, manufacture and sale of audio systems, imaging products, enterprise automation solutions, and connectivity services for automotive manufacturers, consumers and global enterprises.
Portable Power Station for Europe
Portable Power Station For Europe,Rechargeable Portable Solar Power Station,Portable Solar Power Station,Portable Power Station For Outdoor
Guangzhou Fengjiu New Energy Technology Co.,Ltd , https://www.flashfishbatteries.com