Samsung subsidiary Harman has completed its acquisition of Sound United, Masimo’s former audio business, adding a sizable expansion to Samsung’s audio brand portfolio. The $350 million deal was first announced in May, and brings Bowers & Wilkins, Denon, Marantz, Definitive Technology, Polk Audio, HEOS, Classé, and Boston Acoustics under the same roof as JBL, Harman Kardon, and other audio brands that Samsung acquired when it purchased Harman for $8 billion in 2016.
“Sound United’s impressive roster of brands is rooted in a deep passion for sound, innovation, and commitment to quality that aligns with Harman’s own values,†Harman’s lifestyle lead, Dave Rogers, said in a statement. “This transaction unlocks meaningful growth opportunities for everyone. It bolsters Harman’s strategy to build on its unparalleled success story and scale to unprecedented heights as an audio leader.â€
Sound United will operate as a standalone business under Harman’s lifestyle division to ensure that each audio brand preserves its identity and customer base. With the sale now completed, Masimo can focus its attention on the Apple Watch lawsuit it launched against US Customs and Border Protection in August.
Original Source: https://www.theverge.com/news/784390/samsung-harman-masimo-audio-acquisition-complete
Original Source: https://www.theverge.com/news/784390/samsung-harman-masimo-audio-acquisition-complete
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