Harman Completes Acquisition of AMX

AUTHOR: HiddenWires

Harman International Industries, Incorporated (NYSE:HAR), the premier infotment and audio group, today announced the successful completio...

Harman International Industries, Incorporated (NYSE:HAR), the premier infotment and audio group, today announced the successful completion of its acquisition of AMX LLC, from The Duchossois Group, Inc. for $365 million. Richardson, Texas-based AMX is the leading provider of enterprise control and automation systems as well as audio/video switching and distributing solutions and will be integrated into Harman's professional offerings servicing audio, video and IT professionals. "The addition of AMX to our family of brands is consistent with Harman's strategy to diversify our portfolio, including technologies that further the integration and automation of audio, video, and lighting products into comprehensive system solutions," said Dinesh C. Paliwal, Chairman, President and CEO of Harman. "Today's acquisition will extend Harman's service of the enterprise where our strength in audio, lighting and control will serve as a platform for integration, innovation and growth." Founded in 1982 AMX's hardware and proprietary software solutions simplify the way people interact with technology and are implemented worldwide throughout a variety of enterprises and venues such as conference rooms, hotels, classrooms, network operation / command centers, entertainment venues and broadcast facilities. AMX employs more than 600 people across its operations in 19 locations worldwide. "From the addition of Martin lighting and Duran Audio in 2013 to the completion of the AMX acquisition today, Harman Professional is aggressively pursuing opportunities to provide customers and partners with systems solutions that advance the integration and application of AV technology in the enterprise," said Blake Augsburger, President, Harman Professional division. "The completion of this acquisition expands Harman's preeminent role on stage and in the studio to the enterprise as a leading supplier of turnkey AV solutions." AMX products and operations will be integrated into Harman's Professional division, the professional audio and lighting unit of Harman, featuring legendary brands like AKG®, BSS Audio®, Crown® amplifiers, dbx®, JBL® Professional, Lexicon®, Soundcraft®, Studer® and Martin® lighting. As with other product brands in the Harman Professional portfolio it will be referred to as AMX by Harman. Harman's Professional division designs, manufactures and markets leading professional audio and lighting products for recording and broadcast, musicians, cinema, touring sound, commercial applications like airports, stadiums, hotels and concert halls. Harman systems are installed in world renowned entertainment and hospitality complexes, transportation centers, and cultural and academic institutions around the globe. www.amx.com www.harman.com