Seoul: Harman International, an audio subsidiary of Samsung Electronics Co., announced on Wednesday that it has completed the acquisition of the U.S.-based Masimo's audio business in a transaction valued at approximately $350 million.
According to Yonhap News Agency, Harman, which operates as a fully owned subsidiary of Samsung Electronics, stated that this acquisition, initially announced in May, will enhance its business portfolio across various listening environments. This significant acquisition comes nearly eight years after Samsung Electronics acquired Harman in a substantial deal worth 9 trillion won ($6.44 billion).
Sound United, a group that includes prominent audio brands such as Bowers and Wilkins, Denon, and Marantz, will function as an independent strategic business unit within Harman's lifestyle division. Dave Rogers, who oversees Harman's lifestyle division, remarked on the alignment of values between Sound United and Harman, highlighting a shared dedication to sound, innovation, and quality.
In May, Samsung Electronics expressed that the acquisition would bolster Harman's status as a leading figure in the consumer audio market. The market is projected to grow from $60.8 billion in 2025 to $70 billion by 2029.