Samsung Electronics To Buy Harman For $8.0 Billion
Samsung Electronics (“Samsung”), a global leader in high-tech electronics, manufacturing, and digital media announced they are making a major push into automotive electronics industry. Today, Samsung announced they have entered into a definitive agreement with Harman International Industries, Inc. (“Harman”) – a leader in connected car solutions with leading brands including, AKG, Infinity, JBL, among others. In a statement by Samsung, it will acquire 100% ownership of Harman for $112.00 per share in cash, which equates to a total equity value of approximately $8.0 billion. Samsung expects to realize significant synergies with Harman’s complementary technologies, and is expected to exceed $100 billion in the connected car market by 2025. As of 3:00pm CST, Harman’s shares (NYSE: “HAR”) were up 25%.
Read the full press release at http://www.harman.com
Below are highlights of additonal Merger and Acquisition activity from the last week:
Internet Software and Services M&A News: Google enters into a definitive agreement with Apigee Corporation.
Read more at https://apigee.com
Air Freight and Logistics M&A News: United Parcel Service, Inc. to acquire Marken, a leader in Global Clinical Supply Chain Solutions.
Read more at https://www.ups.com
Systems Software M&A News:Oracle Completes Tender Offer for Acquisition of Netsuite.
Read more at https://www.oracle.com
