HARMAN Completes Acquisition of Bang & Olufsen's Automotive Audio Business
STAMFORD, Conn. – HARMAN International Industries, Incorporated (NYSE:HAR), the leading global infotainment, audio and software services company, today announced the successful completion of its acquisition of Bang & Olufsen Automotive car audio business. Bang & Olufsen branded audio products are available in a wide range of Audi, Aston Martin, BMW and Mercedes-Benz car models.
“The additions of Bang & Olufsen and B&O PLAY as distinctive and renowned brands will complement our existing premium branded offerings and strengthen HARMAN’s position as a leader in this segment,” said Dinesh C. Paliwal, HARMAN Chairman, President and CEO. “With this acquisition we are continuing HARMAN’s drive to offer our customers the strongest portfolio of brands and technologies.”
Bang & Olufsen Automotive is well-established as an exclusive brand delivering outstanding sound quality through its unique capabilities within acoustics, design and craftsmanship. In addition to the company’s signature design excellence, its systems incorporate the radical synthesis of emotional appeal and technological performance that represent the hallmark of Bang & Olufsen. HARMAN now will bring its global marketing, scale and technologies to the Bang & Olufsen and B&O PLAY car audio brands to strengthen and grow the business.
HARMAN brands are in more than 25 million cars, and the Bang & Olufsen and the B&O PLAY brands will join HARMAN’s portfolio of car audio brands, including Bowers & Wilkins®, Harman Kardon®, Infinity®, JBL®, Lexicon®, Mark Levinson® and Revel®.
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HARMAN (harman.com) designs and engineers connected products and solutions for consumers, automakers, and enterprises worldwide, including audio, visual and infotainment systems; enterprise automation solutions; and software services. With leading brands including AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon® , Mark Levinson ® and Revel®, HARMAN is admired by audiophiles, musicians and the entertainment venues where they perform around the world. HARMAN also is a technology and integration services leader for the Automotive, Mobile, Telecommunications and Enterprise markets. More than 25 million automobiles on the road today are equipped with HARMAN audio and infotainment systems. The Company’s software solutions power billions of mobile devices and systems that are connected, integrated, personalized, adaptive and secure across all platforms, from the work and home to car and mobile. HARMAN has a workforce of approximately 25,000 people across the Americas, Europe, and Asia and reported sales of $5.9 billion during the last 12 months ended March 31, 2015. The Company’s shares are traded on the New York Stock Exchange under the symbol NYSE:HAR.