Samsung Buys Harman in $8 Billion Cash Deal

It's the biggest acquisition in Samsung's history: $8 billion for Harman International in an all cash deal.And for Samsung it is less about audio/video and digital signage, and much more about automotive electronics.Harman leads the connected car solutions market, with more than 30 million vehicles equipped with its connected car and audio systems, including embedded infotainment, telematics, connected safety and security.Approximately 65% of Harman’s $7.0 billion of reported sales during the 12 months ended September 30, 2016 are automotive-related-- and its order backlog for this market at June 30, 2016 was approximately $24 billion.Upon closing, Harman will operate as a stand-alone Samsung subsidiary, led by Harman’s current management team. […]