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Samsung to acquire Harman for $8bn in automotive push

15 Nov 2016
Samsung has signed a deal to purchase Harman International Industries for a deal worth $8 billion. 

Harman is currently based in Connecticut, and designs connected products for consumers, automakers and enterprise, including audio, visual and infotainment systems.

Approximately 30 million vehicles are currently equipped with Harman connected car and audio systems. Samsung plans to take advantage of Harman’s 8,000 software designers and engineers to deliver “the next generation of cloud-based consumer and enterprise experiences”.

“The vehicle of tomorrow will be transformed by smart technology and connectivity in the same way that simple feature phones have become sophisticated smart devices over the past decade,” said president and chief strategy officer of Samsung Electronics, Young Sohn. 

The deal is expected to rapidly propel the South Korean company’s presence in the competitive automotive electronics market. 

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