Arcam acquired by Harman and Samsung
Harman International Industries, now a division of Samsung, has revealed that is has acquired British audio brand Arcam via email to its dealerbase.
A partnership created to "accelerate exciting innovations that will benefit our brands" according to Harman, the deal was announced in an email to Arcam customers from the manufacturer’s director of sales and marketing, Scott Campbell.
He stated: "Arcam and Harman share a like-minded passion for bringing the highest quality sound into people's lives.”
"Harman recognizes the value and potential of Arcam’s people, technologies, and brands, and we expect the combination will deliver growth opportunities and benefits to our customers. We believe this is an unprecedented opportunity to grow Arcam’s engineering capabilities and extend its product reach into new markets."
Since 2012 Arcam had been a wholly owned subsidiary of the Montreal-based JAM industries.
The existing Arcam team, based in Cambridge, England, will reportedly remain in place, in addition to sales and distribution channels in the US.
Harman is now a division of Samsung following the US $8 billion acquisition announced in November 2016. It also oversees brands including JBL, AKG, Lexicon and Mark Levinson.