Harman to acquire AMX
WORLD: Harman International Industries, Incorporated has signed an agreement with The Duchossois Group, Inc. and its affiliates to acquire AMX LLC for US$365 million. The transaction is subject to customary closing conditions, including applicable regulatory approvals.
AMX will be integrated into Harman’s Professional division joining the likes of AKG, BSS, Crown, dbx, JBL, Lexicon, Soundcraft, Studer and Martin Professional.
‘Our vision is to extend our reach beyond the car into the enterprise, where we already have a substantial audio presence,’ said Dinesh C. Paliwal, chairman, president and CEO of Harman. ‘AMX is the global technology leader in enterprise control and automation as well as audio and video switching and distribution. With the addition of AMX, Harman will be uniquely positioned to provide complete audio, video, lighting and automation solutions to our customers globally.’
‘Starting with the acquisition of Martin lighting last year, Harman has set forth a clear strategy to add visual solutions to our legacy of audio offerings,’ added Blake Augsburger, president of the Harman Professional division. ‘AMX's strong portfolio of video distribution hardware and software is a significant step into the video domain, reinforcing Harman’s commitment to expand our professional portfolio with industry-leading technologies and brands in adjacent and complementary markets.’
‘Harman is a world-class company, and this transaction will provide additional opportunities to grow the AMX business,’ said Robert L. Fealy, president and chief operating officer, the Duchossois Group, and Chairman of AMX. ‘The sale to Harman fulfills one of our fundamental objectives, which was to position this business with a leading entity that will take AMX to an even higher level of performance and success.’