Samsung bought Harman, one of the most famous manufacturers of car audio equipment, and more, for 8 billion dollars. The amount is large for Samsung, but only almost 28% higher than the value of the stock market capitalization of the company that offers its products mainly for luxury cars.
This is the biggest acquisition made by the Samsung company in its entire history, and we are only talking about money offered in exchange for the company, without any action. For Harman we are talking about a very good business, but for Samsung we are talking about a new move that makes it much stronger on the market of car accessory manufacturers.
President Harman claims that Samsung will be an ideal partner for the company he leads, and the car manufacturing partners will have a lot to gain from it. Moreover, he stated that there are a multitude of orders for products from car manufacturers, so Samsung will have enough to gain from it.
According to an American publication, Harman already has orders totaling 24 billion dollars, but a good part of them are not so sure, otherwise the selling price would have been much higher. Harman products have been implemented in 30 million vehicles sold worldwide, but there are many other consumer products available.
"HARMAN perfectly complements Samsung in terms of technologies, products and solutions, and joining forces is a natural extension of the automotive strategy we have been pursuing for some time. Samsung is an ideal partner for Harman and this transaction will provide tremendous benefits to our automotive customers."
