Samsung Electronics buys Harman for $ 8 billion
It turns out that the rumors about the intention of Samsung Electronics to buy a French audio manufacturer Focal had some merit. Only in the end Samsung bought Focal, and much more well-known company Harman.
The transaction amounts to $ 8 billion. This means that Samsung will pay $ 112 for each share of Harman, which is 28% higher than the current value of securities.
Despite the prominence of the brand in the market of headphones and speakers (more precisely, of the brand Harman/Kardon), in fact the main business for the company — car audio, entertainment complexes and so on. 65% of revenue now comes from this segment. And this segment most interested in Samsung.
It should be noted that such famous brands as JBL, AKG, Infinity, Mark Levinson and some others — they are all owned by Harman International Industries.
After closing the deal, Harman will work as a stand-alone subsidiary of Samsung Electronics. To manage the company will continue paliwal were Dinesh (Dinesh Paliwal).