Samsung Electronics completed the acquisition of Harman International Industries in a deal worth $8 billion six years ago. Harman stockholders received $112 per share in cash, and the deal was approved by the US firm’s stockholders and local and foreign regulators.
Now, according to the latest report from Business Korea, Samsung Chairman Lee Jae-Yong ambitiously invested 9 trillion won (approximately US$8 billion at the time) in the company Harman, and after a span of about six years, Harman has now firmly established itself as a robust and integral part of Samsung Electronics’ business portfolio.
In Q2 2023, Harman’s revenue was calculated at 3.5 trillion won (US$2.7 billion), while its operating profit amounted to 250 billion won. Compared to the same period in the previous year, Harman’s revenue received an amazing growth of 17.4 percent.