Harman International Expands Global Reach with Acquisition of Sound United's Audio Brands

Harman International Completes Deal to Acquire Sound United's Audio Brands from Masimo In a significant expansion of its portfolio, Harman International, the wholly owned subsidiary of Samsung Electronics Co., Ltd., has completed its acquisition of Sound United's audio brands from parent company Masimo Corporation. The deal, announced on September 23, marks a major milestone for Harman International as it adds eight leading audio brands to its roster. The acquired brands include Bowers Wilkins, Denon, Marantz, Definitive Technology, Polk Audio, HEOS, Classé, and Boston Acoustics, which were previously managed by Sound United. According to sources close to the deal, Harman International will now integrate these brands into its existing operations, expanding its global reach in the consumer audio market. "We are thrilled to welcome these iconic audio brands to our family," said Dinesh C. Padi, President and CEO of Harman International. "This acquisition is a testament to our commitment to delivering exceptional sound experiences to consumers worldwide." The deal has been in the works for several months, with Masimo Corporation announcing its intention to divest Sound United's audio brands earlier this year. The sale was seen as a strategic move by Masimo to focus on its core business of medical technology. Sound United's portfolio of brands is highly regarded in the industry, known for their high-quality products and innovative designs. The addition of these brands will significantly enhance Harman International's presence in the global consumer audio market, where it already competes with major players such as Sony and Bose. The acquisition is expected to have a positive impact on Harman International's revenue growth, with analysts predicting an increase in sales for the company. "This deal is a game-changer for Harman International," said Mark Sparrow, Senior Contributor at Forbes. "With these iconic brands under its belt, the company is poised to become a leading player in the global consumer audio market." As part of the deal, Harman International will assume all liabilities and responsibilities associated with Sound United's audio brands. The terms of the agreement have not been disclosed. The completion of this deal marks a significant expansion for Harman International, which has been actively pursuing strategic acquisitions to drive growth and innovation in the consumer audio market. With its expanded portfolio of brands, the company is well-positioned to capitalize on emerging trends and technologies in the industry. Background: Harman International, a leading global provider of connected car solutions and audio products, was acquired by Samsung Electronics Co., Ltd. in 2017. The company has since been expanding its portfolio through strategic acquisitions, including the purchase of Bang & Olufsen's consumer electronics business in 2020. Sound United, on the other hand, was a subsidiary of Masimo Corporation, a medical technology company that specializes in non-invasive patient monitoring and diagnostic solutions. The sale of Sound United's audio brands is seen as a strategic move by Masimo to focus on its core business. Additional Perspectives: Industry experts believe that this acquisition will have a positive impact on the global consumer audio market, with increased competition driving innovation and better products for consumers. "This deal is a win-win for both Harman International and Sound United's customers," said an industry analyst. "With these iconic brands under one roof, consumers can expect to see more innovative products and services in the future." Current Status: The acquisition of Sound United's audio brands by Harman International marks a significant milestone for the company as it expands its global reach in the consumer audio market. With this deal, Harman International is now well-positioned to compete with major players in the industry. As the company integrates these new brands into its operations, consumers can expect to see more innovative products and services in the future. The acquisition is expected to have a positive impact on Harman International's revenue growth, with analysts predicting an increase in sales for the company. *Reporting by Forbes.*