Harman buys car division of Bang & Olufsen

Harman buys car division of Bang & Olufsen for 150 million euros.

Harman Kardon has announced the purchase of Bang & Olufsen's automotive division. The press release says the deal will be worth € 145 million and will pay for an exclusive license to use the Bang & Olufsen and B&O Play brands in the automotive market. Bang & Olufsen's in-car audio design and manufacturing resources will be transferred to Harman.

Yevgeny Konov, CEO of Harman Russia, believes the acquisition of Bang & Olufsen's automotive business provides the company with "synergy benefits." “In the coming months, we will be happy to present the brand's car audio systems to Russian buyers as a result of integration with Harman resources,” Yevgeny Konov commented on the signing of the agreement.

Bang & Olufsen home audio / video technology company was founded in Struer, Denmark in 1925 by Peter Bang and Svend Olufsen. In recent years, Bang & Olufsen has expanded the industry with integrated solutions in the hospitality industry and the automotive market. Bang & Olufsen sound solutions are featured in cars from brands such as Audi, Aston Martin and Mercedes-Benz.