Did Samsung Buy Harman to Counter Apple and Google's IoT Ambitions?
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Samsung Electronics buys Harman International for $8 bn
Upon closing, the transaction will immediately give Samsung a significant presence in the large and rapidly growing market for connected technologies, particularly automotive electronics, which has been a strategic priority for Samsung, and is expected to grow to more than $100 billion by 2025.Harman is the market leader in connected car solutions, with more than 30 million vehicles currently equipped with its connected car and audio systems, including embedded infotainment, telematics, connected safety and security.Approximately 65 per cent of Harman's $7 billion in reported sales during the 12 months ending September 30 are automotive-related, and its order backlog for this market on June 30 was approximately $24 billion.
Samsung snagging Harman lifts supplier stocks, creates speculation
Have an opinion about this story?Click here to submit a Letter to the Editor , and we may publish it in print.Samsung Electronics Co.'s $8 billion agreement to buy Harman International Industries Inc. helped breathe some life into a few moribund auto stocks, especially Visteon Corp., as investors speculate that there could be a buying spree of companies that make technology for self-driving cars.
Harman Dealers 'Positive, Hopeful, Nervous' about Samsung Acquisition
Jason KnottNovember 17, 2016The announcement that mega-company Samsung is acquiring Harman for $8 billion took many integrators by surprise.Among a group attending the Mark Levinson Dealer Academy training in Shelton, Conn., this week, the reaction was mostly cautious optimism.Brad Waite of The Screening Room, Colorado Springs, Colo., pragmatically notes, "Obviously time will tell what will actually happen."Until he gets indications to the contrary, Waite is taking the news at face value.