The deal, revealed on Wednesday, will bring several luxury audio brands under Harman's umbrella, including the prestigious British loudspeaker manufacturer Bowers & Wilkins (B&W), Denon, Definitive Technology, Marantz, and Polk Audio.
Founded in 1966, B&W has built a reputation for its distinctive designs, premium materials, and exceptional sound quality that has garnered acclaim from audio professionals and enthusiasts worldwide. The acquisition is expected to bolster Harman's already formidable position in the global audio market, where it currently holds about 60 percent market share in portable audio with brands such as JBL, Harman Kardon, and AKG.
"Built on a shared legacy of innovation and excellence in audio technology, this combined family of brands, together with the talented employees of both companies, will deliver complementary audio products, strengthen our value proposition and offer more choices to consumers," said Dave Rogers, president of Harman's lifestyle division.
Masimo vice chairman Quentin Koffey also expressed great satisfaction in the deal, saying, "Finding the right home for this business has been a stated priority of the new board from day one, and this transaction represents an important milestone."
Samsung Electronics indicated that the deal carries strategic significance beyond the audio market, potentially enhancing sound technology across its mobile devices, televisions, and home appliances through expanded synergies.
The South Korean tech giant has already incorporated Harman's design and engineering expertise into various fields since acquiring the company, including connected car systems for automakers, audio and visual products, enterprise automation solutions, and services supporting the internet of things.
Samsung had previously said during its March annual shareholders meeting that the company would pursue meaningful mergers and acquisitions to address investor concerns about growth, the firm determined to produce tangible results this year.
reporter
Kim Dong-young
davekim0807@ajupress.com
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