Masimo Sells Sound United To Harman International
MASIMO TO SELL SOUND UNITED CONSUMER AUDIO BUSINESS TO HARMAN INTERNATIONAL FOR $350 MILLION
Masimo Corporation has announced that it has entered into a definitive agreement to sell its Sound United consumer audio business to HARMAN International (a wholly-owned subsidiary of Samsung Electronics) for an aggregate purchase price of $350 million in cash.
The sale follows the previously announced review of Masimo’s consumer audio business and will support the Company’s strategic focus on driving innovation in its core professional healthcare segment. The transaction is expected to close by the end of 2025, subject to receiving necessary regulatory approvals.
BIG NAME CONSUMER AUDIO BRANDS
The deal will see brands including Bowers & Wilkins, Denon and Marantz, join HARMAN’s iconic family of brands, including JBL, Harman Kardon, AKG, Mark Levinson, Arcam, and Revel.
Masimo bought Sound United back in 2022, read more here
MASIMO
Quentin Koffey, Vice Chairman of Masimo’s Board of Directors, stated, “Finding the right home for this business has been a stated priority of the new Board from day one, and this transaction represents an important milestone as we continue to position the Company to achieve our goals of accelerating revenue growth while delivering disciplined margins. Masimo has tremendous opportunities ahead and we are confident we have the right healthcare-focused strategy, experienced leadership team and culture of innovation in place to build on our significant positive momentum.”
Katie Szyman, Chief Executive Officer of Masimo, said, “Since I took over as CEO, a key objective has been refocusing our business to ensure we are allocating time and resources to areas of unmet clinical need and driving growth and operational efficiencies. This transaction aligns with these objectives. Our consumer audio business and its talented team will be well positioned for growth and success under HARMAN’s leadership.”
HARMAN
Dave Rogers, President of HARMAN’s Lifestyle division, said, “This acquisition represents a strategic step forward in the expansion of HARMAN’s core audio business and footprint across key product categories such as Home Audio, Headphones, Hi-fi components, and Car Audio. It complements our existing strengths and opens new avenues for growth. Sound United’s portfolio of world-class audio brands including Bowers & Wilkins, Denon and Marantz, will join HARMAN’s iconic family of brands, including JBL, Harman Kardon, AKG, Mark Levinson, Arcam, and Revel. Built on a shared legacy of innovation and excellence in audio technology, this combined family of brands, together with the talented employees of both companies, will deliver complementary audio products, strengthen our value proposition and offer more choices to consumers.”
HiFi PiG Says: Have the Sound United brands found a permanent home with Harman?
