Harman has signed an agreement to acquire the Bang & Olufsen Automotive car audio business. Bang & Olufsen sound systems are available in a wide range of Audi, Aston Martin, BMW and Mercedes-Benz car models.
Terms of the agreement include a purchase price of 145,000,000 Euros for the Bang & Olufsen Automotive audio business, as well as license payments for an exclusive license to the Bang & Olufsen and B&O PLAY brands within the automotive industry. HARMAN will assume all Bang & Olufsen Automotive customer programs, and all Bang & Olufsen Automotive development and production resources will be transferred to HARMAN. The agreement remains subject to certain customary closing conditions, including regulatory approvals.
Bang & Olufsen Automotive recently announced that its surround sound system is featured in the new Audi R8. Now together with HARMAN, the Bang & Olufsen and B&O PLAY brands will ramp up innovation and refinement for premium automotive audio.
The purchase of Bang & Olufsen comes just two months after Harman spent $1 billion buying Redbend Software and Symphony Teleca.