Home Daily Blitz Samsung To Buy Harman For $8 Billion, Moving Into Connected Cars
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Samsung To Buy Harman For $8 Billion, Moving Into Connected Cars

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barrons-articleThe following is an excerpt from Shuli Ren | November 14, 2016 | Barrons.com |

Samsung Electronics (005930.Korea/SSNLF) is moving into the connected car market.

Samsung said it would buy U.S. auto parts supplier Harman International Industries (HAR) for $8 billion in an all-cash deal. Samsung will pay $112 a share in cash, a 28% premium over Harman’s closing price last Friday of $87.65.

Samsung says the acquisition will give it “a significant presence in the large and rapidly growing market for connect technologies, particularly automotive electronics”, which Samsung estimates will be a $100 billion market by 2025.

Samsung is trying to move away from the traditional smartphone electronics business into healthcare and now connected cars. Samsung recently floated Samsung Biologics (207940.Korea), its drug contract manufacturing and..

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