Harman To Buy B&O's Automotive Sound Business For $157.3 Million
Harman said it agreed to buy Bang & Olufsen’s car audio business for roughly $157.3 million and automotive brand license payments. The Danish company’s sound systems are in vehicles from Audi, Aston Martin, BMW and Mercedes-Benz. Harman CEO Dinesh Paliwal…
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called Bang & Olufsen a “distinctive brand” that will “continue at the top of the high-end luxury segment.” Harman will “rapidly grow” B&O Play-branded systems in the mass luxury market, said Paliwal Tuesday.