Harman International takes Over Bang & Olufsen Automotive
Published By : 04 Jun 2015 | Published By : QYRESEARCH
Harman International Industries, a leading global infotainment, software, and audio services firm based out in the U.S. has acquired the car audio business of Bang & Olufsen. The branded audio products of Bang & Olufsen are widely used across in the car models of international automotive brands such as Aston Martin, Audi, BMW, and Mercedes-Benz. After closing the deal, the CEO of Harman International, Dinesh C Paliwal, who also holds the position of the chairman and the president, mentioned that the acquisition of Bang & Olufsen and B&O Play will complement Harman’s existing premium branded offerings and boost its position as an industry leader. Paliwal further said that his company is committed to offer its customers the strongest portfolio of technologies and brands and this acquisition will help the company to achieve its aim.
Bang & Olufsen Automotive is a Danish supplier of audio products to luxury automakers. Through the acquisition deal worth US$156 million, Harman International has taken over the premium brand of car audio systems, along with the licenses for the use of the brands associated with the Danish company.
Harman International’s business will now include Bowers & Wilkins, Bang & Olufsen, Infinity, JBL, Lexicon, Harman Kardon, Revel, and Mark Levinson brands. It is estimated that presently around 25 million vehicles on road are equipped with audio and infotainment solutions offered by Harman. Harman spokesman Darrin Shewchuk mentioned that the acquisition process had started on April 1st and has closed on 3rd June.