Harman acquires Arcam
Harman International has acquired Cambridge-based audio brand Arcam.
In a statement sent to Arcam and Harman customers on July 14, it said: “Arcam and Harman share a like-minded passion for bringing the highest quality sound into people’s lives and we believe bringing the power of the two companies together will benefit the partnership we have with you.”
Arcam joins a portfolio of brands, which include AKG, Harman Kardon, Infinity, JBL, Lexicon, Mark Levinson and Revel.
“Harman acquired Arcam from our Canadian owners on Friday,” Arcam chief executive Charlie Brennan (pictured) told ERT. “It’s business as usual and the Arcam team is staying in place and will continue to report to me.
“I see it as a significant opportunity to build the Arcam brand within Harman and am looking forward to the future.”
Søren Majlund, commercial director, Harman Lifestyle Audio Division, commented: “Harman recognises the value and potential of Arcam’s people, technologies and brands, and we expect the combination will deliver growth opportunities and benefits to our customers. We believe this is an unprecedented opportunity to grow Arcam’s engineering capabilities and extend its product reach into new markets.”
Back in March, Harman itself was bought by Korean tech giant Samsung, for the sum of $8 billion (£6.1bn).