HARMAN to Acquire S1nn Automotive Software and Services Developer
December 18 2014 - 8:00AM
Business Wire
HARMAN International Industries (NYSE:HAR), the premier audio,
visual, infotainment and enterprise automation group, today
announced that it has signed an agreement to acquire S1nn GmbH
& Co. KG, an innovative developer of infotainment systems,
connectivity and car audio solutions. This transaction is subject
to regulatory and other approvals. Terms of the deal have not been
disclosed.
Founded in 2004 and based in Stuttgart, Germany, S1nn provides a
range of technology and system integration solutions and software
application services to top tier automotive companies, such as
Volkswagen, Porsche, Audi, Bentley and Tesla Motors.
“This acquisition will expand HARMAN’s value proposition to
automakers and strengthen our world-class engineering capabilities
with the addition of a talented team from S1nn,” said Dinesh C.
Paliwal, Chairman, President and Chief Executive Officer, HARMAN.
“S1nn’s suite of customizable solutions is an excellent addition to
our portfolio, advancing our efforts to create a seamless, safe and
secure connected car experience.”
With approximately 100 employees, S1nn possesses advanced
capabilities in Infotainment and Automotive Services, including
HTML-5 based multi-display head unit solutions, mobile device
integration, and car audio systems. The S1nn team will be
integrated into HARMAN's Infotainment division, led by Sachin
Lawande.
More than 80 percent of the world’s luxury vehicles feature
HARMAN automotive technologies, such as Audi, BMW, Ferrari,
Hyundai, Lexus, Mercedes Benz, Porsche and Toyota. With a $20.5
billion automotive backlog on June 30, 2014, the Company provides
in-car solutions that integrate navigation, multimedia, premium
entertainment, on-board and off-board connectivity, active safety
systems, and system security. In 2013, the global research and
consulting firm Frost and Sullivan awarded HARMAN the title of
global industry leader for in-vehicle infotainment.
About HARMAN
HARMAN (www.harman.com) designs, manufactures and markets
premier audio, visual, infotainment and enterprise automation
solutions for the automotive, consumer and professional markets.
With leading brands including AKG®, Harman Kardon®, Infinity®,
JBL®, Lexicon®, Mark Levinson ® and Revel®, the Company is admired
by audiophiles, musicians and the entertainment venues where they
perform. HARMAN has a workforce of approximately 16,600 people
across the Americas, Europe, and Asia and reported sales of $5.6
billion for the 12 months ended September 30, 2014. The Company’s
shares are traded on the New York Stock Exchange under the symbol
NYSE:HAR.
HAR-C
HARMANDarrin Shewchuk, 203-328-3500Director, Corporate
Communicationsdarrin.shewchuk@harman.com
Harman (NYSE:HAR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Harman (NYSE:HAR)
Historical Stock Chart
From Apr 2023 to Apr 2024