Image source: Samsung
Samsung is betting hard on the connected cars market with its largest acquisition ever - the purchase of audio company Harman in an all-cash deal of $8 billion!
The acquisition is likely to benefit both companies in the long term. For Samsung, it will have access to Harman's connected car and audio solutions which are used in more than 30 million vehicles.
The South Korean company can also leverage on Harman's long-term relationships with some of the biggest automakers to grow its automotive platform. Another benefit includes inheriting Harman's team of 8,000 software designers and engineers.
Harman will stand to gain from Samsung's expertise in connected mobility, semiconductors, user experience, displays and its global distribution channels to create significant growth opportunities and transforming itself to become a new kind of Tier 1 provider for OEMs.
The transaction is expected to close in mid-2017 where Samsung can take on Apple and Google in the connected car space.
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