HARMAN completes acquisition of Redbend
STAMFORD, CT – HARMAN International Industries, Incorporated (NYSE:HAR), the premier audio, visual, infotainment and enterprise automation group, today announced the successful completion of its acquisition of Redbend Ltd. Israeli-based Redbend is a leading provider of software management technology for connected devices and over-the-air (OTA) software and firmware upgrading services.
“The addition of Redbend’s talented employee base and technology portfolio further positions HARMAN for leadership and growth in the emerging Internet of Things marketplace,” said Dinesh C. Paliwal, Chairman, President, and CEO of HARMAN. “In the connected car, Redbend’s cutting-edge OTA and virtualization technology will help us tackle two of the most significant challenges – upgradeability of embedded software systems and cybersecurity – to deliver a connected car experience that is safer, smarter and more efficient.”
Redbend has more than 15 years of technology development experience, delivering the most advanced software management and OTA solutions to top handset manufacturers and mobile carriers. Building upon Redbend’s established strength in the mobile and carrier markets, HARMAN will accelerate growth in the automotive space, positioning Redbend software as the de facto standard for OTA software service updates for mobile devices and automotive applications.
Sophisticated software platforms such as Redbend are the cornerstone of a steadily increasing number of integrated and interoperating devices, and are ideally suited to meet the rising demands of the connected car, in managing updates for firmware, middleware, third party apps, and other services. Redbend solutions also serve as critical prerequisites for autonomous driving. There are more than 2 billion Redbend enabled devices in the market globally, which are regularly being updated.
Redbend will operate within HARMAN as an independent business unit led by its existing management team.
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HARMAN (www.harman.com) designs, manufactures and markets premier audio, visual, infotainment and enterprise automation solutions for the automotive, consumer and professional markets. With leading brands including AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon® , Mark Levinson ® and Revel®, the Company is admired by audiophiles, musicians and the entertainment venues where they perform. More than 25 million automobiles on the road today are equipped with HARMAN audio and infotainment systems. HARMAN has a workforce of approximately 17,600 people across the Americas, Europe, and Asia and reported sales of $5.9 billion during the last 12 months ended December 31, 2014. The Company’s shares are traded on the New York Stock Exchange under the symbol NYSE:HAR.