Samsung's Harman to Acquire Masimo's Sound United Consumer Audio Business for $350 Million
Irvine-based Masimo Corp. agreed to sell its Sound United consumer audio business to HARMAN International Industries Inc., a subsidiary of Samsung Electronics Co., for $350 million. The deal is expected to close by the end of 2025.
'Finding the right home for this business has been a stated priority of the new board from day one, and this transaction represents an important milestone as we continue to position the company to achieve our goals of accelerating revenue growth while delivering disciplined margins. Masimo has tremendous opportunities ahead, and we are confident we have the right healthcare-focused strategy, experienced leadership team and culture of innovation in place to build on our significant positive momentum,' said Quentin Koffey, vice chairman of Masimo's board of directors, in a statement.
Sullivan & Cromwell served as legal adviser to Masimo.
Information for this article was sourced from Harman.
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