HARMAN To Acquire S1nn Automotive Software and Services Developer
STAMFORD, Conn. HARMAN International Industries (NYSE:HAR), the premier audio, visual,infotainment and enterprise automation group, today announced that it has signed anagreement to acquire S1nn GmbH & Co. KG, an innovative developer of infotainment systems, connectivity and car audio solutions. This transaction is subject to regulatory and other approvals.Terms of the deal have not been disclosed. Founded in 2004 and based in Stuttgart, Germany, S1nn provides a range of technology and system integration solutions and software application services to top tier automotive companies, such as Volkswagen, Porsche, Audi, Bentley and Tesla Motors.
“This acquisition will expand HARMAN’s value proposition to automakers and strengthen our world-class engineering capabilities with the addition of a talented team from S1nn,” said Dinesh C. Paliwal, Chairman, President and Chief Executive Officer, HARMAN. “S1nn’s suite of customizable solutions is an excellent addition to our portfolio, advancing our efforts to create a seamless, safe and secure connected car experience.”
With approximately 100 employees, S1nn possesses advanced capabilities in Infotainment and Automotive Services, including HTML-5 based multi-display head unit solutions, mobile deviceintegration and car audio systems. The S1nn team will be integrated into HARMAN's Infotainment division, led by Sachin Lawande.More than 80 percent of the world’s luxury vehicles feature HARMAN automotive technologies, such as Audi, BMW, Ferrari,Hyundai, Lexus,Mercedes Benz, Porsche andToyota.
With a $20.5 billion automotive backlog on June 30, 2014, the Company provides in-car solutions that integrate navigation, multimedia, premium entertainment, onboard and offboard connectivity, active safety systems, and system security. In 2013, the global research and consulting firm Frost and Sullivan awarded HARMAN the title of global industry leader for in-vehicle infotainment.
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About HARMAN
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 16,600 people across the Americas, Europe, and Asia and reported sales of $5.6 billion for the 12 months ended September 30, 2014.
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