HARMAN Completes Acquisition of Symphony Teleca
April 09 2015 - 8:00AM
Business Wire
HARMAN International Industries, Incorporated (NYSE:HAR) today
announced the successful completion of its acquisition of Symphony
Teleca, a global software services company based in Mountain View,
CA. Symphony Teleca is a provider of software engineering and
integration services that helps businesses rapidly design and
develop innovative products and technologies at the convergence of
device, sensors, cloud and data. Its solutions yield information
and entertainment devices and systems that are connected,
integrated, personalized, adaptive and secure across all platforms,
from the work and home to car and mobile.
“The rapid growth of IoT and convergence of cloud, mobility and
analytics is driving enormous opportunities across all areas of
life,” said Dinesh C. Paliwal, HARMAN Chairman, President and Chief
Executive Officer. “With the addition of Symphony Teleca, HARMAN is
gaining greater scale and depth in software and services to
accelerate innovation and expand the markets we serve. Today marks
a transformational day for our company as we form a fourth division
– HARMAN Services – and welcome 8,000 new members to our team.”
HARMAN Services, led by former Symphony Teleca CEO Sanjay
Dhawan, will incorporate Symphony Teleca’s business and focus on
key verticals where both HARMAN and Symphony Teleca have a strong
established presence, including automotive, mobile, telecom, media,
consumer electronics, retail and healthcare. With more than 400
customers, including Google, Microsoft, Intel, Adobe, Jaguar Land
Rover, Verizon, Comcast, Sirius XM and Tesco, Symphony Teleca has
delivered more than 800 commercial Android products, from mobile
phones and tablets to televisions and wearables, reflecting a
reputation for successful innovation in fast-growing
industries.
About HARMANHARMAN (www.harman.com) designs and
engineers connected products and solutions for consumers,
automakers and enterprises worldwide, including audio, visual and
infotainment systems; enterprise automation solutions; and software
services. With leading brands including AKG®, Harman Kardon®,
Infinity®, JBL®, Lexicon® , Mark Levinson ® and Revel®, HARMAN is
admired by audiophiles, musicians and the entertainment venues
where they perform around the world. HARMAN also is a technology
and integration services leader for the Automotive, Mobile,
Telecommunications and Enterprise markets. More than 25 million
automobiles on the road today are equipped with HARMAN audio and
infotainment systems. The Company’s software solutions power
billions of mobile devices and systems that are connected,
integrated, personalized, adaptive and secure across all platforms,
from the work and home to car and mobile. HARMAN has a workforce of
approximately 25,000 people across the Americas, Europe, and Asia
and reported sales of $5.9 billion during the last 12 months ended
December 31, 2014. The Company’s shares are traded on the New York
Stock Exchange under the symbol NYSE:HAR.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995Except for historical information contained
herein, the matters set forth in this news release are
forward-looking statements. Statements that are predictive in
nature, that depend upon or refer to events or conditions or that
include words such as "expects," "anticipates," "intends," "plans,"
"believes," "estimates," "will," "could" and similar expressions
are forward-looking statements. The forward-looking statements set
forth above involve a number of risks and uncertainties that could
cause actual results to differ materially from any such statement,
including the risks and uncertainties discussed in the company's
Safe Harbor Compliance Statement for Forward-Looking Statements
included in the company's recent filings, including Forms 10-K and
10-Q, with the Securities and Exchange Commission. The
forward-looking statements speak only as of the date made, and the
company undertakes no obligation to update these forward-looking
statements.
HAR-C
© 2015 HARMAN International Industries, Incorporated. All rights
reserved. Harman Kardon, Infinity, JBL, Lexicon and Mark Levinson
are trademarks of HARMAN International Industries, Incorporated,
registered in the United States and/or other countries. AKG is a
trademark of AKG Acoustics GmbH, registered in the United States
and/or other countries.
HARMANDarrin Shewchuk, 203-328-3834Director, Corporate
Communicationsdarrin.shewchuk@harman.com
Harman (NYSE:HAR)
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