Harman Pro boss says “synergy is compelling” after Samsung deal18 November 2016
It’s business as usual for Harman Pro Solutions and its brands, now and through the closing of the deal with Samsung, says the company.
Samsung announced it had entered into an agreement to purchase Harman for $8bn cash (£6.4bn), in a move designed to give the Korean electronics giant a “significant presence” in the connected technologies market, and the automotive electronics sector in particular, on Monday 14 November. As part of that announcement, Samsung said that all Harman’s headquarters and facilities, as well as all of its consumer and professional audio brands, would be retained.
Following the request for clarification of the consequences of the takeover for brands in the pro AVsector in particular – JBL, Soundcraft, Studer, Soundcraft in pro audio, and AMX and Martin Lighting in other AV sectors – Mohit Parasher, executive vice president of Harman and president of Harman Professional Solutions made this statement:
“At Harman Professional Solutions, we bring together our market-leading brands in audio, lighting, video and control to create the best end-to-end solutions for our entertainment and enterprise customers all over the world. We are driven by innovation, product excellence and the constant pursuit of bringing the latest technologies to people’s experience, whether it be in hospitality, retail, corporate, education, government, cinema, broadcast or concert touring settings. So, it is with that dedication to our customers that we celebrate Samsung’s commitment to Harman.
“We see this transaction as a benefit to all stakeholders in the Professional Solutions space because we will be able to leverage Samsung’s unparalleled global scale and R&D capabilities that will enable us to accelerate our innovation,” continued Parasher. “The combination will also expand the company’s business-to-business platform through its ability to deliver integrated, large-scale audio, video, lighting, control and switching professional solutions across all the market verticals we serve. The synergy is compelling and we see a clear opportunity to develop and own a total complete end-to-end solution for our customers.”