as weekend communicated is the takeover of Harman as planned have been completed. The merger agreement the two companies had signed in autumn.
in the context of the merger agreement, the Harman shareholders will receive 112 dollars per share as expected. The transaction reached a volume of about $8 billion. Samsung is a major provider of technology for networked vehicles with the purchase and can also draw on the long-standing relationship of Harman to various automobile manufacturers.
after the U.S. manufacturer Harman technology – for audio, infotainment, telematics and vehicle networking – is installed in over 30 million vehicles currently. In the past fiscal year, that is received on the 30th of September to end about two-thirds on the business accounted for by total sales of around $7 billion with automakers. Including Audi, BMW, Mercedes and Porsche, but also Bentley, Jaguar, Lamborghini and Rolls Royce as well as Fiat producing in large quantities, seat, Skoda and Toyota among the customers.
Harmann is operated as an independent subsidiary of Samsung. The core management team continues unchanged. As Chairman of the Supervisory Board, Young Sohn, President and Chief Strategist of Samsung, the business will control. Harman includes the brands, JBL, Harman Kardon, Mark Levinson, AKG, lexicon, infinity and revel.
“today is a historic moment for us. The completion of this transaction opens the door to creating substantial growth opportunities and to provide our customers with worldwide greater benefits”, Young Sohn is pleased on the completed takeover.
Samsung already had the July 2017 through its subsidiary, Shanghai Samsung semiconductor $449 million in the Chinese electric car maker BYD invested in . The capital should be used in particular to improve battery technology. BYD’s main shareholder remains the Chinese billionaire Wang Chuanfu, who remains Chairman of the company but also after Samsung’s entry. The Samsung investment his only by 1.9 percentage points reduced to 18.8 percent. DISPLAY
has become the networking of vehicles over the last 20 years to a medium for general safety messages and traffic management. But nowadays cars are equipped with new sensors to achieve even better networked and safer driving.