Samsung acquires Harman International for over $8b

In a bid to acquire expertise in audio, Samsung is acquiring the company behind Harman Kardon and JBL: Harman International, according to media sources. The company is known for its offerings for audiophiles and also for its products in the field of music, car infotainment systems and audio-mixing for a combined portfolio of 20 brands.

The company will act as an independent subsidiary under Samsung’s umbrella. The deal cost Samsung around $8b or $112 per share and has been approved by the authorities. It is already the largest investment undertaken by Samsung to acquire a business.

The deal is going to ensure Samsung’s entry in the market for car dashboard products. It will be retaining all of Harman’s approximately 30,000 employees along with all its facilities.

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