Latest news with #DaveRogers
Yahoo
08-05-2025
- Business
- Yahoo
Masimo to divest consumer audio division to Samsung's Harman
US-based Masimo has agreed to sell its consumer audio business, Sound United, to Harman International, a subsidiary of Samsung Electronics, for $350m in cash. The decision is part of Masimo's previously declared strategic review of its consumer audio operations. Masimo stated that the divestiture will allow it to concentrate more on advancing innovation within its core professional healthcare segment. Masimo board of directors, vice-chairman Quentin Koffey said: '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.' Subject to certain conditions, including the necessary regulatory consents, the transaction is expected to be concluded by the end of 2025. Samsung expects the acquisition to create synergy with its existing mobile, television and home appliance businesses. Harman's Lifestyle division president Dave Rogers said: 'This acquisition represents a strategic step forward in the expansion of Harman's core audio business and footprint across key product categories such as home audio, headphones, hi-fi components and car audio. 'It complements our existing strengths and opens new avenues for growth. Sound United's portfolio of world-class audio brands including Bowers & Wilkins, Denon and Marantz, will join Harman's iconic family of brands including JBL, Harman Kardon, AKG, Mark Levinson, Arcam and Revel. 'Built on a shared legacy of innovation and excellence in audio technology, this combined family of brands, together with the talented employees of both companies, will deliver complementary audio products, strengthen our value proposition and offer more choices to consumers.' Centerview Partners and Morgan Stanley acted as financial advisors, while Sullivan & Cromwell provided legal counsel to Masimo for this transaction. Earlier this year, Nokia signed a multi-year patent licence agreement with Samsung to allow the use of its video technologies in Samsung's television products. "Masimo to divest consumer audio division to Samsung's Harman" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Engadget
07-05-2025
- Business
- Engadget
Samsung is paying $350 million for audio brands Bowers & Wilkins, Denon, Marantz and Polk
Harman International, a wholly owned subsidiary of Samsung, is purchasing the audio business of health technology company Masimo for $350 million in cash. The deal is expected to finalized by the end of 2025, though it's still subject to regulatory approvals. Samsung purchased Harman International back in 2017 for $8 billion, though it allowed the company to operate as an independent subsidiary. Harman's brands include JBL, Harman Kardon, AKG, Mark Levinson, Arcam and Revel. If and when the acquisition pushes through, Masimo's audio brands under Sound United will be added to the list, including Bowers & Wilkins, Denon, Marantz and Polk Audio. It is unclear if the purchase will lead to layoffs, but it sounds like Harman is taking on Sound United's employees. "Built on a shared legacy of innovation and excellence in audio technology, this combined family of brands, together with the talented employees of both companies, will deliver complementary audio products, strengthen our value proposition and offer more choices to consumers," said Dave Rogers, the President of Harman's Lifestyle division. As noted by The Verge, Samsung published a press release, where it briefly talked about the history of the brands it's acquiring. It mentioned some of Bowers & Wilkins' most iconic products, such as the Nautilus loudspeaker (pictured above) and its Zeppelin wireless speaker, as well as Denon's history as an early adopter of the CD player. Harman had a 60 percent market share in portable audio devices last year, and the company is looking to maintain that position with this purchase. "By combining the audio business of Masimo, which is being acquired this time, with Harman's lifestyle business division, the company plans to solidify its global No. 1 position in the consumer audio market," Samsung said. Samsung also plans to apply the new brands' audio technologies to its smartphones, TVs, wireless earphones, soundbars and other devices in the future.
The Verge
07-05-2025
- Business
- The Verge
Samsung adds Bowers & Wilkins, Denon, Marantz, and Polk to its audio empire
Samsung subsidiary Harman has agreed to acquire the audio business division of Masimo, taking ownership of audio brands like Bowers & Wilkins, Denon, and Polk Audio. The $350 million deal brings them under the same roof as JBL, Harman Kardon, Arcam, AKG, Mark Levinson, and Revel, which Samsung acquired back in 2016 with its $8 billion acquisition of Harman. The Masimo transaction is expected to close by the end of 2025, subject to regulatory approvals. '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,' said Masimo vice chairman Quentin Koffey. Masimo, you might recall, is the global medical technology company that launched a US patent infringement lawsuit against Apple over the pulse oximetry tech used in the Apple Watch. In its press release, Samsung says it 'plans to solidify its global No. 1 position in the consumer audio market' by combining the Harman and Massimo businesses. Part of that plan also includes applying professional audio technology from Bowers & Wilkins, Denon, and Marantz to Samsung's lineup of smartphones, wireless earphones, headphones, TVs, and sound bars, alongside expanding its car audio business portfolio with brands like Bowers & Wilkins. 'Harman is proud to have grown into a world-class audio company with 75 years of history, and we expect that the acquisition of another luxury audio brand, B&W, will further solidify Harman's position as a true audio powerhouse,' said Dave Rogers, president of Harman's lifestyle business unit.
Phone Arena
07-05-2025
- Business
- Phone Arena
Samsung just bought a huge chunk of the premium audio world
Bowers & Wilkins Px8. | Image credit – Bowers & Wilkins Samsung might be known for phones and TVs, but it actually owns a bunch of premium audio brands, too – including JBL, AKG, Harman Kardon, Mark Levinson and Infinity. It picked them all up when it acquired Harman International back in 2016 for $8 billion. Since then, Harman has continued to run independently, especially strong in the high-end audio and automotive scenes. Now, Samsung is stepping even deeper into the premium audio game because Harman has just signed a deal to acquire the consumer audio division of Masimo for $350 million – and it is a big one. That unit includes some heavy-hitting names like Bowers & Wilkins, Denon, Marantz, Polk Audio and more. Yep, Bowers & Wilkins – that premium British audio brand known for its stunning design and audiophile-grade sound – is now going to be part of the Samsung family. – Quentin Koffey, Vice Chairman of Masimo's Board of Directors, May 2025 Harman plans to merge this new audio business with its existing lifestyle division to solidify its position as the global leader in consumer audio – a market that is expected to jump from $60.8 billion in 2025 to $70 billion by 2029. This acquisition represents a strategic step forward in the expansion of HARMAN's core audio business and footprint across key product categories such as Home Audio, Headphones, Hi-fi components, and Car Audio. It complements our existing strengths and opens new avenues for growth. Sound United's portfolio of world-class audio brands including Bowers & Wilkins, Denon and Marantz, will join HARMAN's iconic family of brands, including JBL, Harman Kardon, AKG, Mark Levinson, Arcam, and Revel. Built on a shared legacy of innovation and excellence in audio technology, this combined family of brands, together with the talented employees of both companies, will deliver complementary audio products, strengthen our value proposition and offer more choices to consumers. – Dave Rogers, President of HARMAN's Lifestyle division, May 2025 This move doesn't just boost Harman's brand portfolio – it could also mean noticeably better sound across Samsung's products, from Galaxy phones to TVs and earbuds. The company already uses Harman know-how to tune audio for its smartphones, tablets, laptops and soundbars. Now, with Denon, Marantz and B&W in the mix, expect a serious step up in sound quality across the board. Harman plans to wrap up the acquisition by the end of the year. And if the name Masimo sounds familiar, you've probably seen it in headlines tied to Apple. Masimo and Apple have been in a legal fight that actually caused a temporary sales ban on Apple Watches in the US. That fight is still ongoing, and it's the reason new Apple Watch models can't use pulse oximetry features unless Apple changes how they work or gets a license.
India Today
07-05-2025
- Business
- India Today
The company that sued Apple and won Rs 21,000 is selling its audio business to a Samsung subsidiary
Masimo, the company that sued Apple and won USD $250 (roughly Rs 20,900), is selling its consumer audio business – Sound United – to Samsung subsidiary Harman. The deal is worth $350 million (about 29.61 billion or 2,960.55 crores in INR) and Harman has agreed to pay the amount in cash. The duo expects to close the transaction by the end of 2025 if it can secure all necessary regulatory approvals. Harmon is home to JBL, Harman Kardon, AKG, Mark Levinson, Arcam, and Revel. Sound United also has under its umbrella a vast array of world-renowned brands, including Bowers & Wilkins, Denon and Marantz. With the addition of these new – but known – names, Harmon expects to advance its core audio business and footprint further across home audio, headphones, Hi-fi components, and car audio categories, opening new growth opportunities while giving more choice to consumers. 'Built on a shared legacy of innovation and excellence in audio technology, this combined family of brands, together with the talented employees of both companies, will deliver complementary audio products, strengthen our value proposition and offer more choices to consumers,' Dave Rogers, President of Harman's Lifestyle division, said in a prepared statement. The acquisition gives Masimo a chance to refocus and prioritise its core competencies. For those unaware, Masimo is a tech company based out of Irvine, California, that specialises in making professional healthcare tools and equipment, including consumer-facing smartwatches. The company is embroiled in a long-standing legal dispute with Apple over patent infringement which forced the iPhone maker to pause the sale of select Apple Watch models briefly in the US. Masimo says Apple poached some of its employees and allegedly stole its patented tech, largely corresponding to pulse oximetry, for its own Apple Watches. Masimo's initial complaint was backed by the International Trade Commission (ITC) following which Apple was banned from selling new Apple Watches – Apple Watch Series 9 and Watch Ultra 2 – in the US, a ban that exists to this day. Apple tried to lessen the blow by manually switching off pulse oximetry inside the contentious devices, which allowed the company to resume sales, something it continues to do with the follow-up Apple Watch Series 10. To reiterate, the ban applies to Apple Watch models with blood oxygen monitoring, sold in the US alone, while in other markets, including India, the feature is live and working as it should be. There is the possibility that the ban is lifted in the future if Apple is able to reach a licencing deal with Masimo, or if the disputed patents expire, which is set for some time in 2028 – or if Apple wins the lawsuit. Apple has been able to prove – in court – that Masimo infringed two of its patents for which it was awarded USD $250 which is the statutory minimum settlement for infringement in the US but the bigger, more controversial issue around blood oxygen monitoring tech remains open for legal debate. 'Since I took over as CEO, a key objective has been refocusing on our business to ensure we are allocating time and resources to areas of unmet clinical need and driving growth and operational efficiencies. This transaction aligns with these objectives. Our consumer audio business and its talented team will be well positioned for growth and success under Harman's leadership' Katie Szyman, CEO of Masimo said.
