Samsung acquires auto-system maker Harman International Industries for Rs 54,263 crore

Korean technology giant Samsung has acquired Harman International Industries for Rs 54,263 crore, said ChannelNews. Harman gets about 65 percent of its sales from the automotive sector, Samsung said.

“Harman perfectly complements Samsung in terms of technologies, products and solutions, and joining forces is a natural extension of the automotive strategy we have been pursuing for some time,” Vice Chairman Kwon Oh-hyun said in the statement.

The acquisition makes Samsung an even bigger player in the world in automotive technology. BMW is among the companies using Harman technology in their vehicles.