SEOUL, South Korea (AP) — Samsung Electronics' $8 billion acquisition of the U.S. auto electronics company Harman will instantly transform the South Korean tech company into a major player in the highly competitive and rapidly growing market for auto infotainment, software and connected car technology. SEOUL (dpa-AFX) - Samsung Electronics (SMSN.L, SSNNF.OB, SSNLF.OB) agreed to acquire Harman International Industries Inc. (HAR) for $112.00 per share in cash, or total equity value of about $8.0 billion, the companies said on Monday. Upon closing, the transaction will immediately give Samsung a significant presence in the large and rapidly growing market for connected technologies, particularly automotive electronics, which has been a strategic priority for Samsung, and is expected to grow to more than $100 billion by 2025.
Samsung Electronics agrees to buy the U.S.-based Harman International Industries for $8 billion in the biggest overseas acquisition ever by a South Korean company.