Samsung Acquires Harman in $8B Deal Samsung Electronics has acquired Harman International Industries.By Duncan Proctor Published: November 14, 2016 ⋅ Updated: April 15, 2019 Samsung Electronics has acquired Harman International Industries Inc. for $112 per share in cash, or a total equity value of approximately $8 billion, with the agreement expected to close in mid-2017. The purchase price represents a premium of 28 percent based on Harman’s closing stock price on November 11, 2016 and a 37 percent premium to Harman’s 30-calendar day volume weighted average price ending November 11, 2016. The agreement has been unanimously approved by the boards of directors of both companies, and Samsung expects to use cash on hand to fund the transaction. The agreement is still subject to approval by Harman shareholders, regulatory approvals, and other customary closing conditions. The deal will give Samsung a significant presence in the market for connected technologies, automotive electronics in particular, which is a strategic priority for Samsung and expected to grow to more than $100 billion by 2025. Approximately 65 percent of Harman’s $7 billion of reported sales during the 12 months ending September 30, 2016 are automotive-related, and its order backlog for this market as of June 30, 2016 was approximately $24 billion. With regard to the benefits and opportunities in the audio sector, Harman brands including JBL, Harman Kardon, and AKG will enhance the competitiveness of Samsung’s mobile, display, virtual reality, and wearable products to deliver a differentiated audio and visual experience for customers. As for the professional side of Harman, the agreement will expand the combined company’s B2B platform through its ability to deliver integrated, large-scale AV professional solutions at stadiums, concert venues, homes, and other performance centers. Read the full story on Installation-International.com. More coverage from our sister site TWICE.com. SubscribeFor more stories like this, and to keep up to date with all our market leading news, features and analysis, sign up to our newsletter here.