Harman International Industries

Line

  • Dinesh Paliwal, Chairman, President and CEO
  • Herbert Parker, executive vice president and CFO

The Harman International Industries Inc. in Stamford, Conn., is an international group of audio accessory manufacturers, hi-fi specialists and electronic equipment suppliers. The company is listed on the stock index S & P 500. Founder and namesake of the company was Sidney Harman.

The Group operates in two business segments: the Consumer Systems Group designs, manufactures and sells speakers, audio equipment, infotainment systems for automobiles, to video equipment and computer accessories come for home use. The Professional Group designs, produces and sells IT and speaker systems for concert buildings, sports stadiums and airports, plus audio equipment for recording studios, broadcast stations or cinemas.

In 2005, the Automotive Systems Group was separated from the Consumer Systems Group. The group now operates in three business segments: The Automotive Systems Group designs, manufactures and sells speakers, audio equipment, infotainment systems for automobiles; the Consumer Systems Group designs, manufactures and sells audio and video equipment and computer accessories for the home environment and the Professional Group designs, produces and sells IT and loudspeaker systems for the professional sector (see above).

Since August 1, 2008 Dinesh Paliwal is the successor of Sidney Harman as Chairman of Harman International. Paliwal has been active since 2007 as President, CEO and Vice Chairman of Harman International.

Sale

Until the third quarter of 2007 Harman International Industries should be bought by the private equity firm Kohlberg Kravis Roberts ( KKR) and Goldman Sachs belonging to GS Capital Partners for nearly eight billion dollars. The company name is to be retained.

On 22 September 2007, announced that the financial investors the takeover did not perform due to a contract since allegedly "heavily deteriorated financial position of the company." After this message, the company's share price plummeted by up to 24 percent.

However, KKR agreed with Harman International. On a small scale, KKR agreed to acquire shares of Harman to catch the falling share price, and to regain the confidence of the stock market investors. That did not work. With the announcement of the acquisition, the stock had risen to $ 120. In September 2007, it fell to 80 €. Various announcements of management, profit warnings and a general negative business climate before the elections in the U.S. in 2008 caused the share price up almost 25 € in April 2008 decline, in the context of financial crisis, it dropped further to below 10 €, but recovered thereafter and commutes since 2010 between 20 € to 40 €.

Brands

  • AKG
  • Audio Access
  • Becker
  • BSS
  • Crown
  • Dbx
  • DigiTech
  • DOD
  • Duran Audio (since October 2013)
  • Harman / kardon
  • Harman Multimedia
  • Infinity
  • JBL
  • Lexicon
  • Mark Levinson
  • Margi
  • Martin Professional
  • QNX ( until the end of 2010, sold to Research In Motion)
  • Revel
  • Studer
  • Soundcraft
  • Uher
Types of business entity International Securities Identification Number Stamford (Connecticut) Connecticut 1,000,000,000 Audio signal Electronics AKG Acoustics Infinity (audio) Mark Levinson Audio Systems Uher (brand)
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