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Samsung to acquire audio maker Harman for $8 billion

Samsung announced on Monday (November 14, 2016) that it has agreed to acquire Harman, a market leader in lifestyle audio innovations, for approximately $8 billion. As part of the deal, Samsung will buy Harman for $112.00 per share.

In a Samsung news release, Samsung wrote that the Harman acquisition will give the company a “significant presence in the large and rapidly growing market for connected technologies, particularly automotive electronics, which has been a strategic priority.”

The deal is expected to be completed in mid-2017.

Aside from the Harman acquisition, a report from Reuters also said that Samsung has had talks with Fiat Chrysler Automobiles over a potential sale for its Magneti Marelli subsidiary.

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