Harman Buys B&O's Car Audio Business

Harman International Tuesday announced that it had agreed to acquire Bang & Olufsen's Automotive car audio business. B&O manufactures sound systems for high-end auto brands like Audi, Aston Martin, BMW and Mercedes-Benz.

The purchase price was 145,000,000 Euros, or about $155 million, and the deal includes the license to the Bang & Olufsen and B&O PLAY brands within the automotive space.

“HARMAN has earned its leadership position in car audio by designing and engineering the most technologically sophisticated sound systems in the world and building the strongest portfolio of brands that help our customers distinguish their own unique brand propositions,” Dinesh C. Paliwal, HARMAN Chairman, President and CEO, said in a statement.

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