Despite growing at an explosive rate Samsung never really bought big startups. They always preferred small startups or companies but it just changed last November. The company announced it would purchase Harman International Industries, Incorporated for about $8 billion. And tonight it confirmed the deal is complete.
“Samsung provides Harman with the scale, platform and complementary technologies to accelerate growth and extend our global market leadership in automotive, smart audio and connected technologies….Samsung and Harman will define – and drive – the future of automotive.” Said Harman International Industries President Dinesh Paliwal.
If you are not sure about the scale of this buyout then you must remember that Harman is a Parent company. It not only owns Harman Kardon brand, but also Lexicon, Mark Levinson, Infinity, and JBL.
Compared to Google’s Android Auto and Waymo efforts, or Apple pushing CarPlay and Project Titan, Samsung is doing things a lot differently. This acquisition has the potential to give a boost to the “Smart Home” system and other connected devices of Samsung. Even after the acquisition, Harman will operate as an independent subsidiary with 30,000 employees.
So what do you think about this acquisition of Samsung? Do you think it will drastically give advantage to the company in the Smartphone market?