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 | Ruling MP accuses opposition of “serving other countries' interests” Khachatur Sukiasyan has accused Armenia’s opposition of serving the interests of other countries Protest leader vows to achieve departure of Armenian authorities According to Archbishop Bagrat, there is only one solution to the situation in Armenia. Heads of Armenian, Ukrainian parliaments hold virtual talks Alen Simonyan and Ruslan Stefanchuk held talks via video conference on Tuesday, May 21. Pashinyan travels to Iran to pay tribute to Raisi, others Prime Minister Nikol Pashinyan has left for the Islamic Republic of Iran on a working visit. |