In a somewhat interesting move, Samsung today announced that they’ve entered into a definitive agreement with Harman to acquire them for $112 per share in cash, totalling to $8 billion. The move will give Samsung access to a rapidly growing connected market for automobiles that is expected to grow more than $100 billion by 2025.
Samsung says their expertise in semiconductors, connected mobility and its distribution channels when combined with Harman’s brand and audio capabilities, will help Samsung to deliver improved experience and products across its product portfolio.
Harman will operate as a standalone Samsung subsidiary with its current management leading the subsidiary.