Samsung closes HARMAN acquisition for approximately $8 billion

Shareholders of HARMAN were not able to shake Samsung for more money as the chaebol has closed in on its purchase of the Connecticut-based audio company for $112 per share or about $7.8 billion. Samsung Electronics has wrapped up on its biggest acquisition in its history, taking in one of the FORTUNE 500.

HARMAN is made up of 30,000 employees working on the Harman Kardon, JBL, Lexicon, Mark Levinson and Infinity brands with focuses in mobile, home, automotive and industrial audio. Dinesh Paliwal retains his CEO position at the company.

Audio enhancements for the Galaxy S8 were rumored to be branded with the HARMAN name.

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Jules Wang
Jules Wang is News Editor for Pocketnow and one of the hosts of the Pocketnow Weekly Podcast. He came onto the team in 2014 as an intern editing and producing videos and the podcast while he was studying journalism at Emerson College. He graduated the year after and entered into his current position at Pocketnow, full-time.