As it was expected, Samsung officially competed what they announced previously about the acquisition of Harman International. Previously, the company was purchased by Samsung for approximately $8 billion in cash. About the shares, it reached an amount of $112 of what the former Harman stockholders will receive.
The company, even though is now bought by Samsung officially, will still continue to work as a standalone subsidiary. The board of directors will still remain unchanged also. The CEO of Harman, Dinesh Paliwal will continue his role, and also all of the company’s workforce and facilities will be retained. That also includes Harman/Kardon, which represents the audio brand which was used for speakers inside many smartphones, tablets and PCs.
Samsung were until now, showing a lot of interest in acquiring Harman. The main reason was because of its automotive business which generates the majority of the company’s annual revenues. And also, it shows us how much Samsung want to improve their devices, with improving their audio technology right now. What we still have to wait, is to see how this will affect Samsung in general, and with their upcoming devices.