Samsung buys connected car firm Harman for $8bn in cash

Samsung buys connected car firm Harman for $8bn in cash
 

Samsung Electronics is buying automotive electronics-maker Harman International Industries for about $8bn (£6.4bn) in cash as it makes a big push into connected car technologies.
The offer of $112 per share is a 28% premium to Harman's Friday closing price and marks the biggest overseas purchase by a South Korean firm.
Samsung said automotive electronics was "a strategic priority" .
The connected technologies market is expected to grow to $100bn by 2025.
"The vehicle of tomorrow will be transformed by smart technology and connectivity in the same way that simple feature... read more

 
14 November 2016 in Business, Views: 49
Source: BBC
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