Bang & Olufsen being acquired by Harman for $156 million. The acquisition will also include technology licensing. Bang & Olufsen supplies audio and infotainment system to major luxury brands like Aston Martin, BMW, Mercedes Benz and Audi. The company was founded by Peter Bang and Svend Olufsen in 1925.
“The additions of Bang & Olufsen and B&O PLAY as distinctive and renowned brands will complement our existing premium branded offerings and strengthen Harman’s position as a leader in this segment” – Harman CEO Dinesh Paliwal
(Source: AutoNews Europe)