Harman/AMX Deal is Finalized
Harman International Industries announced Friday that its deal to acquire AMX is now complete. Harman had agreed earlier this spring to buy AMX from The Duchossois Group, Inc. from $365 million, which remains the purchase price.
“The addition of AMX to our family of brands is consistent with Harman’s strategy to diversify our portfolio, including technologies that further the integration and automation of audio, video, and lighting products into comprehensive system solutions,” Dinesh C. Paliwal, Chairman, President and CEO of Harman, said as part of the announcement.
“Today’s acquisition will extend Harman’s service of the enterprise where our strength in audio, lighting and control will serve as a platform for integration, innovation and growth.”
AMX’s products will become part of Harman’s Professional division, joining AKG, BSS Audio, Crown, DBX, JBL Professional, Lexicon, Soundcraft, Studer and Martin Lighting.