Harman International Industries is in the process of being acquired by Samsung in a whopping $8 billion deal, which will mark the Korean giant's entry into the automotive industry. Harman is famous for manufacturing top of the line audio systems, smartcar accessories and other automobile entertainment systems for companies such as GM and Fiat. In an official statement by Samsung, Vice-Chairman Kwon Oh-Hyun mentioned that "Harman perfectly complements Samsung in terms of technologies, products and solutions, and joining forces is a natural extension of the automotive strategy we have been pursuing for some time."
The all-cash deal, when it goes through, will result in Samsung acquiring Harman Industries at $112 per share. Although it will take some time before the buyout is completed, Samsung is looking to finish all the necessary formalities by the end of Q3, 2017, including approvals from the regulators and of course, share holders. It would be interesting to see if any of the new protectionist strategies which could be adopted by the new Trump govenment, interferes with this deal concerning an Asian company acquiring an US business.
Saikat Kar (tech-enthusiast)
You may probably use the Cyanogenmod made by Cyanogen Inc. on your Android Smartphone. According to a report in The Information, Cyanogen Inc. rejected acquisition interest from Google. Google's Android chief, Sundar Pichai reportedly discussed the search giant's interest in the small company in a recent meeting with its top brass.
Instead of becoming part of Google, Cyanogen is in late-stage discussions for Series C round of financing. The company is seeking a valuation that is close to $1 Billion, despite the fact that it is barely generating revenue.
Potential Cyanogen investors have reportedly been told that the company has struck a deal with the Indian manufacturer Micromax. The latter's smartphones will be outfitted with custom Android ROMs, a la OnePlus One as part of the agreement.
Today, Lenovo announced that its acquisition of Motorola from Google is complete. The deal cost the Chinese company $2.91 billion and was announced in late January. Motorola remains headquartered in Chicago and it's brand is intact, but it's now a "Lenovo company".
"Today we achieved a historic milestone for Lenovo and for Motorola and together we are ready to compete, grow and win in the global smartphone market. By building a strong number three and a credible challenger to the top two in smartphones, we will give the market something it has needed: choice, competition and a new spark of innovation," - said Yang Yuanqing, chairman and CEO, Lenovo.