Samsung’s Harman Acquires Bowers & Wilkins Parent Company

Key Takeaways

1. Samsung’s Harman subsidiary has completed the $350 million acquisition of Sound United, enhancing its audio brand portfolio.
2. Sound United includes well-known brands like Bowers & Wilkins, Denon, and Marantz, now part of Harman International.
3. Sound United will operate as an independent Strategic Business Unit under Harman’s lifestyle division to preserve brand identity.
4. The acquisition allows Sound United to utilize Harman’s resources for market growth and success.
5. Harman benefits from Sound United’s expertise, aiding in the development of audio technologies and strengthening its industry position.

Samsung’s Harman subsidiary has finalized the purchase of Sound United, an audio company owned by Masimo, which oversees well-known audio brands like Bowers & Wilkins, Denon, and Marantz. This acquisition was initially announced in May, and it has now been successfully completed.

Details of the Acquisition

The acquisition costs $350 million, which is a small part of the $8 billion Samsung spent to acquire Harman in 2016. With this new acquisition, all of Sound United’s brands—including Bowers & Wilkins, Denon, Marantz, Definitive Technology, Polk Audio, HEOS, Classé, and Boston Acoustics—are now part of Harman International (which is owned by Samsung). This move will broaden Harman’s collection to feature amplifiers, Hi-Fi components, home audio devices, and audio/video receivers (AVRs).

Sound United’s Future

As stated in an official press release, Sound United will function as an independent Strategic Business Unit (SBU) under Harman’s lifestyle division. This structure is meant to help the brands maintain their history, knowledge, and customer relationships. The press release also mentioned that these brands will utilize Harman’s resources to grow their market presence, capabilities, and overall success.

Benefits for Harman

Harman will gain from the skills and expertise of Sound United, which will assist in speeding up the development of its audio technologies, expanding its market, and strengthening its status as a leader within the audio industry.

Source:
Link