Samsung is acquiring Harman for approximately $8 billion

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Samsung
confirmed just yesterday that they are buying Harman International Industries. Harman is well-known for their car tech and premium audio systems. Here are the details.

The deal for Harman went official yesterday. Samsung agreed to pay approximately $8 billion for the acquisition. This sale caused a spike in Harman’s stock price, which is now valued over 25% higher than before the deal closed. At this point, you’re probably wondering, what will Samsung do with costly acquisition? We can’t be sure as to exactly what Samsung will do, as it remains early for making solid predictions. However, we can make some bold ones.

With the purchase of Harman International Industries, Samsung will own the rights to strategic business units like JBL, Harman Kardon, Mark Levinson, AKG, Lexicon, and Infinity coupled with a few others. These brands will be able to provide Samsung assistance in audio systems and car tech especially. This may just be the beginning to Samsung’s next push at the smart environment around us.

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SOURCE [Samsung]

About Doug Demagistris 1627 Articles
Doug Demagistris is the Founder and current Editor In Chief of Droid Turf. He grew up in New York and now attends Bryant University where he is studying marketing and communication. He has been and always will be a Google enthusiast thanks to Android’s customization, flat design and exceptional integration with various Google services. Currently, Doug uses a Pixel 2 XL as his daily driver for its unique design, powerful hardware, exceptional camera, and stock experience. For shorter instances, he’ll glance at his Huawei Watch. And for more productive work, you’ll find him typing away on his Pixelbook. Doug is hopeful his productivity will make lives easier, more meaningful and help down the road.