Samsung closes on its $8 billion purchase of Harman International

Samsung closes on its $8 billion purchase of Harman International
Samsung announced early today that it has closed on the purchase of technology company Harman for a total of $8 billion. The deal was originally announced back in November and under the final terms, Harman stockholders will receive $112 a share. Harman produces plenty of products for the auto industry, but also owns several well known consumer audio brands such as Harman Kardon and JBL.

Both Harman Kardon and JBL have had their name on certain smartphones and accessories. A JBL speaker is available as a Moto Mod modular accessory for the Moto Z series. Meanwhile, HTC had offered a special Harmon Kardon edition of the HTC One (M8). In addition, Microsoft plans on making a Harmon Kardon powered smart speaker similar to Amazon's Echo device. Instead of Alexa, Cortana will provide the cloud based answers.

Harman's shares which closed Friday at $111.50, will be delisted before Monday's opening on U.S. stock markets.

source: Samsung


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