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STAMFORD, Conn. - HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd., announced Tuesday it has completed the acquisition of Sound United, the former consumer audio business of Masimo Corporation (NASDAQ:MASI), a healthcare technology company with a market capitalization of $7.7 billion. According to InvestingPro data, Masimo maintains a healthy financial position with a current ratio of 2.14, indicating strong liquidity.
The acquisition brings several premium audio brands under HARMAN’s control, including Bowers & Wilkins, Denon, Marantz, Definitive Technology, Polk Audio, HEOS, Classé, and Boston Acoustics.
According to the company’s press release statement, Sound United will operate as a standalone Strategic Business Unit within HARMAN’s Lifestyle Division, preserving each brand’s heritage and identity while leveraging HARMAN’s global resources.
The transaction expands HARMAN’s presence across key product categories including home audio, electronics, headphones, and car audio. The company stated this integration strengthens its audio portfolio and market position.
"HARMAN’s vision is to create experiences that enrich people’s lives through exceptional audio experiences," said Dave Rogers, President of HARMAN’s Lifestyle Division, in the announcement.
HARMAN, which already owns audio brands including JBL, AKG, Harman Kardon, Lexicon, Mark Levinson, and Revel, employs approximately 30,000 people globally across the Americas, Europe, and Asia.
The financial terms of the acquisition were not disclosed in the press release.
In other recent news, Masimo has completed the sale of its Sound United consumer audio business to HARMAN International, a subsidiary of Samsung Electronics. The proceeds from this transaction are expected to be used for share repurchases. Additionally, Masimo received FDA clearance for expanded indications of its O3 Regional Oximetry delta hemoglobin parameters, now applicable across all patient populations, including pediatric and neonatal patients. In leadership changes, William Jellison resigned from the Masimo Board of Directors, with the company noting no disagreements related to operations, policies, or practices. The company has not yet announced a successor for Jellison’s position.
In analyst updates, BTIG reiterated its Buy rating and set a $198.00 price target for Masimo, following Apple’s announcement to restore its Blood Oxygen feature for certain Apple Watch models in the U.S. This development follows a legal battle between Apple and Masimo, which previously led to the feature’s removal. The reintroduction of this feature will occur through upcoming software updates. These recent developments reflect ongoing strategic and operational shifts within Masimo.
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