harman international industries
harman international industries engages in the development, manufacture and marketing of audio products and electronic systems .
samsung said it would pay $ 8 billion for harman international industries, an american automotive technology company .
not many people would guess that harman international industries inc. is an american company, let alone a washington one .
therefore, comparing the nps score of harman international industries with your own without any further context is not that useful .
top 100: # 18 harman international industries inc. ,
washington post, april 9, 1990, p. e28 .
harman international industries inc. (har: nyse) – market cap as of 18 / 11 / 2016: $ 7. 622bn
jp morgan and lazard are advising harman international industries, while evercore is the sole advisor to samsung. additionally, jp morgan provided the fairness opinion to harman’s board .
© 2018 harman international. all rights reserved. privacy policy | terms of use
© 2018 harman international. all rights reserved. privacy policy | terms of use
consider an example: if harman international industries sends out nps surveys immediately after purchase, they are tracking their customers' initial excitement and the checkout experience .
skopp, roberta ,
christopher stevens appointed harman kardon president; harman international industries, inc. , acquires audioaccess, phoenix systems ,
pr newswire, june 3, 1993 .
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we have estimated the net promoter score of harman international industries based on the publicly available information including the sentiment of the company - related tweets, 3rd party reviews, and alexa ratings .
accelerates innovations for expanded industries and markets: through greater global engineering scale and complimentary customer base, the acquisition will enable harman to rapidly develop and commercialize more innovative solutions and systems for a broader set of industries .
on november 14, samsung electronics co. announced the acquisition of harman international industries inc. for a total equity value of approximately $ 8bn, and a value per share of $ 112 entirely paid in cash .
in december 2016, harman international industries inc. invested in a startup that makes projection displays that sit in front of car windshields, signalling a new area it plans to explore under the ownership of samsung electronics co .
seoul (reuters) - samsung electronics has agreed to buy harman international industries in an $ 8 billion deal, marking a major push into the auto electronics market and the biggest overseas acquisition ever by a south korean company .
electronics giant samsung on monday said it will buy u. s. car and audio systems supplier harman international for $ 8 billion .
principal subsidiaries: akg (germany); allen & heath limited (united kingdom); audax industries, s. a. (france); bss audio (united kingdom); dod electronics corporation; harman belgium nv; harman consumer europe a / s (denmark); harman deutschland gmbh (germany); harman france, s. n. c. ; harman international industries, limited (united kingdom); harman international japan co. , limited; harman - kardon, incorporated; harman - motive, inc. ; harman motive limited (united kingdom); infinity systems, inc. ; jbl incorporated; lexicon incorporated; lydig of scandinavia a / s (denmark); soundcraft electronics, limited; studer professional audio ag (switzerland); turbosound ltd. (u. k .) .
samsung, the south korean electronics giant — which already makes popular but recently problem - plagued smartphones — said on monday that it had agreed to buy harman international industries, an american automotive technology company, in an ambitious push into a whole different kind of mobile .
source: international directory of company histories, vol. 15. st. james press, 1996 .
william blair & company initiated research coverage of harman international industries, incorporated (har $ 105. 31), a leading manufacturer and distributor of infotainment systems, vehicle and consumer audio products, professional audio products, and connected services for automakers, consumers, and businesses globally .
harman international industries was to disappear from nyse in q3 / 2007 due to a buy - out by kkr and goldman sachs capital partners. [ 13 ] however, as of mid september 2007, kkr announced they would back out of the deal. harman shares plummeted by more than 24% that day, on the news .
harman international industries was to disappear from nyse in q3 / 2007 due to a buy - out by kkr and goldman sachs capital partners. [ 20 ] however, as of mid september 2007, kkr announced they would back out of the deal. harman shares plummeted by more than 24% that day, on the news .
samsung electronics today announced it has completed the previously announced acquisition of harman international industries, incorporated (“harman”). under the terms of the merger agreement, harman stockholders will receive $ 112. 00 per share in cash. the completion follows the satisfaction of all conditions to the closing of the transaction, including approval of the transaction by harman stockholders and receipt of all necessary regulatory approvals in the united states and certain foreign jurisdictions .
the first transaction was the u. s. $ 8 billion offer by kkr and goldman sachs for harman international industries, the maker of jbl speakers and harman kardon home theatre systems. harman was founded in 1953 by dr. sidney harman, the now 88 - year - old chairman, who will remain as executive chairman following the transaction. interestingly, harman had previously been sold by dr. harman in 1977 to the beatrice company, under whose ownership it performed poorly. dr. harman bought the company back in 1980 for u. s. $ 55 million .
stamford, ct – harman international industries, incorporated (nyse: har), the premier connected technologies company for automotive, consumer and enterprise markets, today announced the successful completion of its acquisition of towersec, a global provider of automotive cyber security, specializing in onboard network protection for connected vehicles .
harman international industries is the global leader in connected car technology, lifestyle audio innovations, design and analytics, cloud services and iot solutions. it was founded in 1980 by sidney harman and bernard kardon, and is now headquartered in stamford, connecticut. harman has developed, both internally and through a series of strategic acquisitions, a wide product offering. the company is organized in four distinct segments :
harman international industries, inc. manufactures and markets a wide range of high - end, high - fidelity audio and video system components for consumer and professional markets. well - known brands sold by the company include jbl, infinity, and harman kardon. harman was expanding rapidly in the early and mid - 1990s, mostly through the acquisition of subsidiaries in europe, japan, and the united states .
despite gloomy predictions, harman proceeded during the 1980s and early 1990s to build harman international industries into a powerhouse in the niche for high - end consumer and professional audio equipment. he achieved that growth largely by acquiring smaller companies, reorganizing their management and operations, and allowing them to run relatively autonomously using his style of management. the strategy eventually proved to be hugely successful, and harman international became known as one of the few large u. s. audio - equipment producers to prosper during the 1980s and 1990s .
sidney harman and bernard kardon founded the predecessor to harman international, harman kardon, in 1953. both harman and kardon were engineers by training and had worked at the bogen company, which was then the top manufacturer of public address systems. their collaboration helped to create a new industry: high - fidelity audio .
the sudden deterioration in conditions in the buyout market has had implications for deals big and small. the $ 25 billion buyout of sallie mae (charts, fortune 500) and $ 8 billion deal for harman international industries (charts) are both in jeopardy after buyers balked at completing the deals as they are currently structured .
in february 2017, harman international shareholders have voted in favor of the acquisition by samsung. [ 19 ] on march 10, 2017, the acquisition is complete, with harman becoming a subsidiary of samsung electronics. [ 5 ]
in an era when u. s. electronics companies have all but ceded the world consumer market to foreign competitors, harman international is a rare bird. its optimism and international scope seem more in line with the 1950s, when the u. s. audio industry was on top of the world .
sidney harman, from his station in washington, d. c. , watched from the corporate sidelines as beatrice drove his company toward ruin. when carter was ousted from office in 1980, harman became determined to regain control of the enterprise and restore its former glory. in 1980 sidney harman and a group of investors paid $ 55 million for what amounted to about 60 percent of the assets of the company that harman had sold in 1977. harman established a bare - bones headquarters in washington, d. c. , and began streamlining and organizing the newly created harman international industries to compete in the 1980s .
sidney harman and bernard kardon founded the predecessor to harman international, harman kardon, in 1953. both harman and kardon were engineers by training and had worked at the bogen company, which was then the top manufacturer of public address systems. their collaboration helped to create a new industry: high - fidelity audio. harman bought out his partner in 1956 and then expanded harman kardon into an audio powerhouse, according to a biography written by the consumer electronics hall of fame. [ 6 ]
stamford, ct – harman international industries, incorporated (nyse: har), the premier connected technologies company for automotive, consumer and enterprise markets, today launched a refresh of its corporate brand, unveiling a new logo and new division names. harman’s new logo represents the company’s mission to enable seamless, connected lifestyles for the home, car, stage and enterprise through its leading audio products, infotainment systems, software and connected services .
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 .
but like all electronics companies in this country, harman has to include foreign - made components in much of its product line. and a factory owned and operated in japan by shin shirasuna turns out the entire harman - kardon line of products. for harman international' s wares in general, the u. s. content is between 60 and 85 percent, harman estimates .
south korean electronics giant samsung looks to very quickly get up to speed in the highly - competitive smart car business with its $ 8 billion acquisition of u. s. car and audio systems supplier harman international
news broke monday morning that samsung had agreed to acquire harman international for $ 8 billion in an all - cash deal. the deal accelerates samsung' s foray into the automotive market and offers new growth potential .
stamford, connecticut - - harman international industries, incorporated (nyse: har), the premier infotment and audio group, today announced the successful completion of its acquisition of amx llc, from the duchossois group, inc. for $ 365 million. richardson, texas - based amx is the leading provider of enterprise control and automation systems as well as audio / video switching and distributing solutions and will be integrated into harman’s professional offerings servicing audio, video and it professionals .
after he left government in 1978, [ 7 ] he created harman international industries and reacquired a number of businesses he sold to beatrice. the company continued its growth plan with a string of acquisitions throughout the 1980s that pushed harman international' s sales from about $ 80 million in 1981 to more than $ 200 million by 1986, and then to more than $ 500 million by 1989. harman international went public in 1986 with a stock offering on the new york stock exchange. cash from that sale was used to, among many other purchases, buy soundcraft, a u. k. producer of professional mixing boards, in 1988 and later - salt lake city digital electronics producer dod electronics corp. by 1990, harman international was selling consumer audio gear under such brands as jbl, harman kardon, infinity and epicure loudspeakers, as well as professional audio systems with such brands as jbl professional, urei, soundcraft, allen & heath, dbx, studer, dod, lexicon, akg, bss, orban, quested and turbosound (the last one now under the control of music group (company) [ 8 ]) .
after he left government in 1978, [ 4 ] he created harman international industries and reacquired a number of businesses he sold to beatrice. the company continued its growth plan with a string of acquisitions throughout the 1980s that pushed harman international' s sales from about $ 80 million in 1981 to more than $ 200 million by 1986, and then to more than $ 500 million by 1989. harman international went public in 1986 with a stock offering on the new york stock exchange. cash from that sale was used to, among many other purchases, buy soundcraft, a u. k. producer of professional mixing boards, in 1988 and later - salt lake city digital electronics producer dod electronics corp. by 1990, harman international was selling consumer audio gear under such brands as jbl, harman kardon, infinity and epicure loudspeakers, as well as professional audio systems with such brands as jbl professional, urei, soundcraft, allen & heath, dbx studer, dod, lexicon, akg, bss, orban, dbx, quested and turbosound (the last one now under the control of music group (company) [ 5 ]) .
roopa unnikrishnan is vice president of strategy for harman. harman is a wholly - owned subsidiary of samsung electronics co. , ltd .
by 1990 the harman organization had grown into a loose conglomeration of several autonomous companies, each of which catered to a specific niche in the high - end audio equipment industry - - most of harman' s goods, though, were marketed under the venerable jbl, infinity, or other top brand names. harman' s sales topped $ 550 million in 1990 and net income was shy of $ 15 million. although harman international achieved growth and much success during the 1980s, it became clear to sidney harman that major changes had to be initiated if the company was going to compete successfully in the 1990s. that concern was reflected in a disappointing $ 19. 8 million loss experienced by harman international in 1991, during the recession .
segal, david ,
the hi - fi manufacturer that listens well; d. c.' s harman international stays close to the customer ,
washington post, september 4, 1995, bus. sec. , p. 10 .
novi, mich. – january 25, 2016 – harman international industries, incorporated (nyse: har), the premier connected technologies company for automotive, consumer and enterprise markets, today announced the official opening of its new north american automotive headquarters. located in novi, michigan, the 188, 000 square - foot building with 1, 000 employees focuses on engineering and development of advanced technology solutions for the connected car, automotive audio, and cloud services. developed by northern equities group, the harman north american automotive headquarters anchors the 400 - acre haggerty corridor corporate park .
since joining harman in 1997, michael has held several senior management positions of increasing responsibility. michael was co - president of harman’s automotive division, as well as co - president of harman’s infotainment and lifestyle divisions. michael was also senior vice president of finance and chief financial officer of harman’s automotive division until 2010 .
in march 2017, harman became a wholly - owned subsidiary of samsung electronics .
in connection with the proposed transaction, harman will file with the securities and exchange commission (the “sec”) and mail or otherwise provide to its stockholders a proxy statement regarding the proposed transaction. before making any voting decision, harman’s stockholders are urged to read the proxy statement in its entirety when it becomes available and any other documents filed with the sec in connection with the proposed transaction or incorporated by reference therein because they will contain important information about the proposed transaction and the parties to the proposed transaction. harman investors and security holders may obtain a free copy of the proxy statement and other documents that harman files with the sec (when available) from the sec’s website at urltoken and the “investors” section of www. harman. com. in addition, the proxy statement and other documents filed by harman with the sec (when available) may be obtained from harman free of charge by writing to harman international industries, incorporated, attention: corporate secretary, 400 atlantic street, suite 1500, stamford, connecticut 06901, or by calling (203) 328 - 3500 .
however, despite those concerns and the troubles that samsung is going through these days, harman international shareholders have voted in favor of the acquisition. this means that a major hurdle is now out of samsung’s way as it seeks to close this deal in the coming months .
samsung electronics announced in november last year that it had decided to acquire harman international for $ 8 billion. this acquisition gives samsung access to harman’s automotive business as well as its premium audio brands which include bang & olufsen, harman kardon, jbl, and more. there was some pushback from minority investors who felt that the price was too low. some even filed a lawsuit against harman’s ceo for deciding to sell the company at a price that they perceived to be lower than what the company was actually worth .
kardon retired in 1956 and harman bought his share of the blossoming enterprise. harman sold part of his company in 1962. for several years thereafter, harman - kardon, under sidney harman' s control, operated as the flagship division of an enterprise that owned other high - fidelity products interests. during the next several years, harman built the stereo company into a leading contender in the high - fidelity industry. at the same time, the innovative and intriguing harman was involved in a number of other pursuits .
the predecessor to harman international was founded in 1953 by sidney harman and bernard kardon. both harman and kardon were engineers by training - - the
dr .
in harman' s title, interestingly, refers to a phd in social psychology that he earned at the union institute of new york. the two friends were working together during the early 1950s as engineers at the bogen company, which was then the top manufacturer of public address systems. high - fidelity technology that was emerging at the time had caught harman' s interest, and he tried to persuade his superiors at bogen to become more involved in the burgeoning field .
harman bought out his partner in 1956 and then expanded harman kardon into an audio powerhouse, according to a biography written by the consumer electronics hall of fame. [ 3 ]
but through it all sidney harman' s company, renamed harman international, continued to prosper, earning $ 9. 1 million on sales of $ 136. 6 million in the year that ended aug. 31, 1976. in 1977 came a major change: it was sold to the beatrice foods conglomerate of chicago. harman says he wanted to unload his 25 percent stake to avoid any conflict of interest after his appointment as undersecretary of commerce in the carter administration .
through acquisitions and internal expansion, harman international' s sales have soared from $ 80 million a year when the company was reconstituted to an expected $ 460 million in the year that will end june 30. in november 1986 it went public and is now traded on the new york stock exchange .
stamford, ct – harman international industries, incorporated (nyse: har), the premier audio, visual, infotainment and enterprise automation group, today announced it has signed an agreement with symphony technology group to acquire symphony teleca, a privately - held global software services company. based in mountain view, ca, symphony teleca provides software engineering and integration services that help businesses rapidly design and develop products and technologies at the convergence of device, sensors, cloud and data. with the acquisition of symphony teleca, harman will add a fourth division to its three primary businesses: infotainment, lifestyle and professional. the transaction is subject to customary closing conditions and regulatory approvals and is expected to be completed by the end of harman’s 2015 fiscal year .
press - release - samsung - electronics - completes - acquisition - of - harman. pdf
redbend will operate within harman as an independent business unit led by its existing management team .
above: the six' onion - like' layers of harman' s security system .
harman expanded to include lighting in 2013 with the acquisition of martin professional. [ 10 ]
with its $ 8 billion deal for harman, samsung targets the competitive smart car business .
harman shares rose 25. 6 percent to their highest level in more than one year .
harman international was incorporated in 1980 by dr. sidney harman, a politician, philosopher, entrepreneur, and one of the founding fathers of the stereo industry. he formed the enterprise to purchase the jbl loudspeaker unit operated by the mammoth beatrice companies, inc. conglomerate. the roots of the company that harman created in 1980, though, reach back to a venture that harman himself launched in the 1950s. indeed, harman purchased the jbl division as part of a plan to regain control of the company that he had started and, over the course of nearly three decades, built into a respected developer and manufacturer of cutting - edge, high - fidelity stereo gear .
harman is also increasing its focus on the telematics business focusing on connected tcu’s and adding the v2x focus on this. daimler is one of the biggest clients harman has in this space .
meanwhile, harman continued to pursue additional interests, including politics. indeed, in 1976 newly elected president jimmy carter appointed sidney harman to the post of undersecretary of commerce. harman accepted the job and in 1977 sold his 25 percent stake in harman - kardon to chicago - based corporate behemoth beatrice foods. harman pocketed $ 100 million from the sale and went on to achieve notable successes in the carter administration. beatrice, in contrast, mismanaged its harman - kardon subsidiary (one of 200 under the beatrice umbrella) and promptly ran it into the ground .
sanjay dhawan is executive vice president and president of harman’s connected services division & the company’s chief technology officer. harman is a wholly - owned subsidiary of samsung electronics co. , ltd .
michael mauser is executive vice president and president of the lifestyle audio division and regional head of harman europe. harman is a wholly - owned subsidiary of samsung electronics co. , ltd .
smart cars behind samsung' s $ 8b bid for harman with its $ 8 billion deal for harman, samsung targets the competitive smart car business. check out this story on urltoken urltoken
harman credited the prosperity of his companies to the success of a strategy that emphasized three tactics: 1) all of the company' s products were built in factories that it owned, rather than purchased from companies that contracted to manufacture the goods for harman; 2) harman international vigorously marketed all of its products globally; and 3) the company honored its employees and treated them with respect. the success of that three - pronged strategy was evidenced by one of harman' s first acquisitions, a car stereo company that he purchased in 1982 and dubbed harman motive. when harman bought the small company it was generating sales of about $ 8 million per year. before the end of the decade, however, the division was churning out a big $ 100 million in annual revenues .
this communication also makes reference to harman’s awarded business or “backlog”, which represents the estimated future lifetime net sales for all of harman’s automotive customers. harman’s awarded business does not represent firm customer orders. harman reports its awarded business primarily based on written award letters. to validate these awards, harman uses various assumptions including global vehicle production forecasts, customer take rates for harman’s products, revisions to product life cycle estimates and the impact of annual price reductions and exchange rates, among other factors. the term “take rate” represents the number of units sold by harman divided by an estimate of the total number of vehicles of a specific vehicle line produced during the same timeframe. the assumptions harman uses to validate these awards are updated and reported externally on an annual basis .
department of commerce exchange of letters on the resignation of sidney l. harman as under secretary .
thank you for your interest in harman. please select from the choices below for more information .
emerging in june that year, this new harman international had about 60 percent of the old company' s assets. washington was home for harman by this time, so he put his lean corporate headquarters here (it currently has only seven people). in 1985, the company scored a first of sorts by regaining some territory lost by the u. s. industry. it bought back the harman - kardon label from the japanese company that had acquired it, shin shirasuna, now part of the giant hitachi group .
in 1994 akg became a part of harman international industries, inc. the following years brought a time of restructuring and sharpening of the product line and distribution strategy. the wireless microphone line was extended with great products used on tour by rod stewart, peter gabriel and simply red. 1995 brought the introduction of the world' s smallest dual - diaphragm system in the world, the ck 77 / c 577 - big in sound, smaller than a thumbnail in size, specifically designed for theater, tv and film uses. akg also developed the new performer series - affordable microphones for karaoke, home - recording and performing musicians .
excluding transaction costs and purchase accounting adjustments, harman expects the transaction will be dilutive to operational earnings by approximately $ 0. 05 in fiscal year 2016. this was previously stated during harman’s second quarter fy16 conference call. the towersec acquisition will be reported as part of the harman connected car division .
mentors play an influential role in helping today’s young professionals become experienced leaders. # harman ’s inter… urltoken
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 .
more than 50 million automobiles on the road today are equipped with harman audio and connected car systems .
just as important as management strategy was a string of acquisitions throughout the 1980s that pushed harman international' s sales from about $ 80 million in 1981 to more than $ 200 million by 1986, and then to more than $ 500 million by 1989. notable among harman' s early acquisitions was urei, a manufacturer of professional amplifiers. of greater significance was the purchase in 1985 of the original harman - kardon operation from shin shirasuna. that buyout represented one of the few acquisitions of a japanese electronics company by a u. s. firm during the 1980s. harman international went public in 1986 with a stock offering on the new york stock exchange. cash from that sale was used to, among many other purchases, buy soundcraft, a u. k. producer of professional mixing boards, in 1988, and salt lake city digital electronics producer dod electronics corp. in 1990 .
the annual and semi - annual consolidated statements of financial condition of william blair & company, l. l. c. , and its wholly owned subsidiary, william blair international, limited (collectively the
company
) are available below .
seoul, korea and stamford, ct – samsung electronics (krx: 005930) (“samsung”) and harman international industries, incorporated (nyse: har) (“harman”) today announced that they have entered into a definitive agreement under which samsung will acquire harman for $ 112. 00 per share in cash, or total equity value of approximately $ 8. 0 billion. upon closing, the transaction will immediately give samsung a significant presence in the large and rapidly growing market for connected technologies, particularly automotive electronics, which has been a strategic priority for samsung, and is expected to grow to more than $ 100 billion by 2025 [ 1 ]. harman is the market leader in connected car solutions, with more than 30 million vehicles currently equipped with its connected car and audio systems, including embedded infotainment, telematics, connected safety and security. approximately 65% of harman’s $ 7. 0 billion of reported sales during the 12 months ended september 30, 2016 are automotive - related, and its order backlog for this market at june 30, 2016 was approximately $ 24 billion .
harman international bucked criticism with its performance during the early and mid - 1990s. the company focused on growing existing operations, but also continued its aggressive acquisition drive. sales jumped from $ 604 million in 1992 to $ 862 million in 1994, while net income rose from $ 3. 5 million to $ 25. 6 million. harman also continued to streamline and consolidate, reducing its entire operation to just three divisions: professional, automotive, and consumer .
harman is best known for making car audio systems under brand names popular with audiophiles such as harman / kardon and jbl. but harman’s appeal to samsung comes from what it calls its connected car business — an operation that supplies a car’s navigation services, its onboard entertainment systems and its connectivity to the rest of the world .
ralph has responsibility for 197 employees across four business units and drives all aspects of harman’s worldwide marketing strategy. this includes brand stewardship, artist relations, event sponsorship, market research and product innovation for all harman product and technology brands including akg®, harman / kardon®, infinity®, jbl®, lexicon®, mark levinson® and revel® .
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beatrice effectively butchered the company, selling off some chunks of the business and mismanaging what remained. by 1980 only about 60 percent of the organization of which harman - kardon had been a part before sidney harman exited remained. the original harman - kardon division, in fact, had been sold to a japanese company named shin shirasuna, which was later absorbed by the giant hitachi group of companies. basically, all that was left of harman' s original company was jbl (a loudspeaker business) and some international distribution companies. although beatrice had damaged it, jbl remained a respected manufacturer of high - end professional speaker systems; jbl, founded in 1946, had helped to pioneer the loudspeaker industry .
jimmy carter: department of commerce exchange of letters on the resignation of sidney l. harman as under secretary .
harman has over 70 years of engineering expertise with audio and voice. it’s the core of everything we do .
in june, 2014, harman completed the acquisition of amx llc, from the duchossois group, bringing enterprise control and automation systems as well as audio / video switching and distributing to harman' s offerings. [ 11 ]
“the internet of things (iot) is ushering in a rapid convergence of experiences, content and commerce and advancing technology from digital to connected to intelligent systems. software is driving this evolution and as a result, software solutions and services will be key to harman’s continued success, ” said dinesh c. paliwal, harman chairman, president and chief executive officer. “the acquisition of symphony teleca is a transformative step for harman that gives us immediate scale in software services. with the addition of cloud, mobility and analytics competencies, we will accelerate solutions for the connected car and for a broader set of industries and markets. we look forward to welcoming the symphony teleca team to harman and working closely with them to fulfill our customers’ desires for building a seamless, safe and secure connected lifestyle. ”
amx products and operations will be integrated into harman’s professional division, the professional audio and lighting unit of harman, featuring legendary brands like akg®, bss audio®, crown® amplifiers, dbx®, jbl® professional, lexicon®, soundcraft®, studer® and martin® lighting. as with other product brands in the harman professional portfolio it will be referred to as amx by harman. harman’s professional division designs, manufactures and markets leading professional audio and lighting products for recording and broadcast, musicians, cinema, touring sound, commercial applications like airports, stadiums, hotels and concert halls. harman systems are installed in world renowned entertainment and hospitality complexes, transportation centers, and cultural and academic institutions around the globe .
in june, 2014, harman completed the acquisition of amx llc, from the duchossois group, bringing enterprise control and automation systems as well as audio / video switching and distributing solutions to harman' s offerings. [ 8 ]
harman (harman. com) designs and engineers connected products and solutions for automakers, consumers, and enterprises worldwide, including connected car systems, audio and visual products, enterprise automation solutions; and services supporting the internet of things .
on july 1, 2008, sidney harman was succeeded by dinesh paliwal as chairman of the board. [ 15 ]
on july 1, 2008, sidney harman was succeeded by dinesh paliwal as chairman of the board. [ 22 ]
jimmy carter: department of commerce exchange of letters on the resignation of sidney l. harman as under secretary
harman rejects the idea that his company' s success lies in a protected niche approach. (the japanese, he says, have made repeated efforts to grab his business but have failed .) the principles that guide his company, he says, could be applied by any u. s. manufacturer serious about reentering the mass electronics market. but he concedes that harman international, for the time being at least, is not going to stray from the high - end business line by which it has done so well .
kaplan, fred ,
sidney harman ,
regardies: the business of washington, september 1989, p. 94 .
in the 1970s, harman accepted an appointment in the carter administration as undersecretary of the department of commerce. when harman took office in 1976, he sold his company to conglomerate beatrice foods to avoid a conflict of interest. beatrice promptly sold many portions of the company, including the original harman kardon division, and by 1980 only 60% of the original company remained .
many electronics industry insiders doubted the wisdom of harman' s decision to jump back into the now - hyper - competitive stereo equipment industry. aside from his age - - harman was 61 at the time, and some critics wondered if he lacked the vision to compete in the rapidly evolving, increasingly global electronics industry - - the u. s. electronic components industry was experiencing global upheaval. the primary culprit in the downfall of many u. s. electronics and related equipment manufacturers was intense overseas competition, particularly in japan. u. s. companies had ceded the bulk of their domestic market share to the japanese, and pressure on companies like harman international was intensifying .
the company will host a conference call with the investment community thursday, january 22, 2015 at 10: 00 am est. to participate call 1 - 800 - 763 - 6564 (north america) or 1 - 212 - 231 - 2924 (international), access code 21760117. a replay of the call will also be available following its completion at approximately 1: 00 p. m. est. to listen to the replay, dial 1 - 800 - 633 - 8284 (u. s .) or 1 - 402 - 977 - 9140 (international), access code 21760117 .
samsung is offering $ 112 in cash for each harman share, 28% higher than the stock' s friday closing price .
harman engineers solutions to enhance life’s experiences, simplifying the way people interact with technology and connecting them to the world around them .
rt @ harmanservices: harman introduces cruise industry' s first voice - enabled personal assistant. read to know more. … urltoken
harman expanded it' s portfolio of professional solutions to include lighting in 2013 with the acquisition of martin professional. [ 7 ]
dinesh paliwal is president and chief executive officer of harman, a wholly - owned subsidiary of samsung electronics co. , ltd .
nick parrotta is chief digital and information officer at harman, a wholly - owned subsidiary of samsung electronics co. , ltd .
david slump is executive vice president of operations at harman, a wholly - owned subsidiary of samsung electronics co. , ltd .
the deal, which is subject to approval by harman shareholders and regulators, is expected to be completed in mid - 2017 .
actual results may differ materially from those indicated by such forward - looking statements. in addition, the forward - looking statements represent harman’s and samsung’s views as of the date on which such statements were made. harman and samsung anticipate that subsequent events and developments may cause their respective views to change. however, although harman and samsung may elect to update these forward - looking statements at some point in the future, each specifically disclaims any obligation to do so. these forward - looking statements should not be relied upon as representing the views of harman or samsung as of any date subsequent to the date hereof. additional factors that may affect the business or financial results of harman are described in the risk factors included in harman filings with the sec, including harman’s annual report on form 10 - k for the fiscal year ended june 30, 2016, which risk factors are incorporated herein by reference .
after months of negotiations, samsung has agreed to acquire harman using part of its $ 64bn cash on hand to finance the transaction. samsung will buy harman’s shares at $ 112 each. the price represents a premium of 27. 8% with respect to harman’s closing share price of $ 87. 7 on november 11, the last day of trading prior to the announcement. the deal involves a 100% acquisition of harman for a total equity value of $ 8bn. it is yet unclear if and how samsung will support harman’s existing debt, the rating of which has been put under review for upgrade by moody’s following the transaction announcement .
audiophiles from every generation call on harman to deliver the best in sound in the studio and on the stage, at home and on the go. harman’s portfolio of legendary audio brands includes akg®, harman kardon®, infinity®, jbl®, lexicon®, mark levinson®and revel®. more than 50 million vehicles on the road today enjoy an enhanced driving experience, thanks to harman audio and infotainment. we extend the same spirit of innovation to the world’s leading performance and sporting venues, providing everyone with the best seats in the house .
burgess, john ,
harman profits in electronics market abroad ,
washington post, june 6, 1988, p. e5 .
koehler, ron ,
sidney harman talks success ,
grand rapids business journal, november 10, 1986, p. 5 .
in the 1970s, harman accepted an appointment in the carter administration as deputy secretary of the department of commerce. when harman took office in 1976 as head in charge, he sold his company to conglomerate beatrice foods to avoid a conflict of interest. beatrice promptly sold many portions of the company, including the original harman kardon division, and by 1980 only 60% of the original company remained .
bogen showed little interest in harman' s desire to pioneer high - fidelity equipment for the home. so, in 1953, harman and kardon left the company to form their own enterprise: harman - kardon inc. drawing from their $ 10, 000 in funds, the pair developed an advanced stereo system that could be used to play records at home. when their friends heard the system, they were amazed .
we knocked the hell out of them; they were trembling with shostakovich' s fifth ,
harman recalled in the september 1989 regardies - - the business of washington .
nobody had heard anything like that in his living room ,
harman added .
department of commerce exchange of letters on the resignation of sidney l. harman as under secretary. ,
october 11, 1978 .
a full cinema quality 5. 1 surround sound theater showcasing harman' s expertise in professional audio, as well as home and multimedia ;
sandy rowland is executive vice president and chief financial officer of harman, a wholly - owned subsidiary of samsung electronics co. , ltd .
ralph santana is executive vice president and chief marketing officer of harman, a wholly - owned subsidiary of samsung electronics co. , ltd .
on november 14, samsung and harman will host a webcast presentation to discuss the transaction at 8: 00 am est / 10: 00 pm kst. links to the webcast and accompanying documents will be available on samsung’s investor relations website urltoken and harman’s investor relations website urltoken .
establishes harman as unique provider of application engineering services for connected experiences: with the competitive advantage of established systems solutions, and global expertise across analytics, mobile development and cloud, harman will be able to provide a comprehensive application services offering across the automotive, enterprise and consumer markets .
in connection with the completion of the transaction, harman’s common stock will cease trading prior to market open on march 13, 2017 and will be delisted from the new york stock exchange. harman will operate as a standalone samsung subsidiary, overseen by a board of directors led by mr. sohn. mr. paliwal will remain ceo of harman, leading the company with his management team, and will continue to serve as a member of its board. samsung is retaining harman’s work force, headquarters and facilities, as well as all of its consumer and professional audio brands .
john stacey is executive vice president and chief human resources officer of harman, a wholly - owned subsidiary of samsung electronics co. , ltd .
upon closing, harman will operate as a standalone samsung subsidiary, and continue to be led by dinesh paliwal and harman’s current management team. samsung is pursuing a long - term growth strategy in automotive electronics, and plans to retain harman’s work force, headquarters and facilities, as well as all of its consumer and professional audio brands. samsung believes the combination will increase career development and advancement opportunities for the employees of both companies .
samsung’s $ 112 - a - share offer for harman represents a 28 percent premium from where its shares traded on friday, but that is still well below the roughly $ 145 that each harman share was fetching early last year. harman’s results from its professional solutions business — which makes sound and lighting for concerts and other events — have weakened. the company has said it will work to bring the operations back to their previous strength .
you may best associate the name with audio equipment, but harman is big on cars, too. the acquisition is samsung’s largest to date and a big deal for its automotive ambitions. around 65 percent of harman’s sales — which totaled $ 7 billion over the last year — were for car - related products. samsung added that harman products, which included connected car devices and audio systems, are installed in an estimated 30 million vehicles worldwide .
it said that dinesh paliwal, harman’s chairman and chief executive, would continue to run the operation, and that it would keep the company’s facilities .
“from the addition of martin lighting and duran audio in 2013 to the completion of the amx acquisition today, harman professional is aggressively pursuing opportunities to provide customers and partners with systems solutions that advance the integration and application of av technology in the enterprise, ” said blake augsburger, president, harman professional division. “the completion of this acquisition expands harman’s preeminent role on stage and in the studio to the enterprise as a leading supplier of turnkey av solutions “
the harman kardon acquisition of bang & olufsen automotive is now completed. the $ 156 million acquisition of bang & olufsen automotive, a danish supplier of …
abrahms, doug ,
big quake didn' t shake great year for harman ,
washington times, august 20, 1994, p. d5 .
mike peters is executive vice president and president of the connected car division at harman, a wholly - owned subsidiary of samsung electronics co. , ltd .
mohit parasher is executive vice president and president of the professional solutions division at harman, a wholly - owned subsidiary of samsung electronics co. , ltd .
the transaction, which is subject to approval by harman shareholders, regulatory approvals and other customary closing conditions, is expected to close in mid - 2017 .
previously, dinesh served on the board of directors of tyco international ltd. (nyse: jci), adt security services (nyse: adt), and embarq, now centurylink inc. (nyse: ctl), and served as chairman of abb india ltd. (a publicly - listed company with a multi - billion dollar market capitalization). he also has served as chairman of the u. s. national foreign trade council and on the boards of the u. s. - india ceo forum, the u. s. china business council, the national symphony orchestra, and the international swimming hall of fame. he served for three years as economic advisor to the governor of guangdong province, china .
towersec’s ecu shield and tcu shield embedded automotive software security products will be integrated into harman' s 5 + 1 security architecture, to protect the critical vehicle systems and functions from hacking and intrusions, a necessary prerequisite in all connected and autonomous vehicles. towersec is an award - winning global automotive cyber security company that has been recognized by leading automotive trade groups. in 2015, towersec was named the north american international auto show’s hottest startup, and received the 2016 new product innovation award from industry analyst firm frost and sullivan .
terms of the deal will see samsung pay $ 112. 00 per share. that’s a healthy premium on harman’s current share price of $ 87. 65, and it gives the deal a total value of approximately $ 8 billion. the transaction is expected to close by mid - 2017, at which time harman will become a standalone subsidiary of samsung. dinesh paliwal will continue to lead the firm as its chairman, president and ceo, both harman and samsung said .
above: a diagram illustrating harman' s security system that incorporates the' ecu shield' technology from the company' s acquisition of towersec in early 2016 .
furthering its commitment to the city of novi, harman today announced a $ 10, 000 grant to the novi educational foundation to support educational opportunities and program enhancements for the novi community school district and greater community. joined by customers, elected officials and community leaders, harman executives commemorated the official opening with tours and prese
rt @ harman: # 5g connectivity
will be key to the future of the connected car .
with 5g networks' ability to analyze massive amo… urltoken
as head of the harman strategy group, roopa will oversee the integration with samsung and the company’s longer - term growth strategy. roopa is responsible for overseeing harman’s strategy process and drives box 3 innovation efforts as well in partnership with business and technology leaders. she reports to president and chief executive officer, dinesh paliwal .
“harman was missing, in our opinion, a meaningful presence in displays and cockpit electronics; samsung has these, ” baird equity research said in a report.
harman international industries , incorporated is an american company that designs and engineers connected products for automakers , consumers and enterprises worldwide , including connected car systems ; audio and visual products , enterprise automation ; and connected services . headquartered in stamford , connecticut , harman maintains major operations in the americas , europe , as well as asia and markets its products under more than twenty brands — including akg acoustics , amx , crown audio , harman/kardon , infinity , jbl , jbl professional , lexicon , dbx , digitech , mark levinson , martin , revel , soundcraft , and studer . on november 14 , 2016 , harman entered into an agreement to be acquired by south korean company samsung electronics . the sale was completed on march 10 , 2017 . 
harman international industries, incorporated is an american company that designs and engineers connected products for automakers, consumers and enterprises worldwide, including connected car systems; audio and visual products, enterprise automation; and connected services. headquartered in stamford, connecticut, harman maintains major operations in the americas, europe, as well as asia and markets its products under more than twenty brands — including akg acoustics, amx, crown audio, harman/kardon, infinity, jbl, jbl professional, lexicon, dbx, digitech, mark levinson, martin, revel, soundcraft, and studer. on november 14, 2016, harman entered into an agreement to be acquired by south korean company samsung electronics. the sale was completed on march 10, 2017.
harman international industries, incorporated is an american company that designs and engineers connected products for automakers, consumers and enterprises worldwide, including connected car systems; audio and visual products, enterprise automation; and connected services. headquartered in stamford, connecticut, harman maintains major operations in the americas, europe, as well as asia and markets its products under more than twenty brands — including akg acoustics, amx, crown audio, harman/kardon, infinity, jbl, jbl professional, lexicon, dbx, digitech, mark levinson, martin, revel, soundcraft, and studer. on november 14, 2016, harman entered into an agreement to be acquired by south korean company samsung electronics. the sale was completed on march 10, 2017.