Samsung Elec to buy connected car solutions leader Harman for $8 bnNovember 14, 2016 - 12:36 AMT PanARMENIAN.Net - Samsung Electronics (005930.KS) said on Monday, November 14 it had agreed to buy Harman International Industries (HAR.N), a leader in connected car solutions, for about $8 billion, marking a major push into the auto-related technology, Reuters reports. Samsung said in a statement it will acquire Harman for $112.00 per share in cash, which represents a premium of 28 percent to Harman's Friday closing price. It said the deal would "give Samsung a significant presence in the large and rapidly growing market for connected technologies, particularly automotive electronics, which has been a strategic priority." The deal comes at a time when Samsung's mobile phone business has been hit hard by the disastrous withdrawal of the fire-prone Galaxy Note 7. Underscoring Samsung's interest in the auto sector, the electronics giant has had talks with Fiat Chrysler Automobiles (FCA) over a potential sale or partnership for its Magneti Marelli auto parts maker, sources have said. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |