Harman to acquire Bang & Olufsen’s Automotive Audio Business

The agreement include a purchase price of EUR 145 million for the Bang & Olufsen Automotive audio business, as well as license payments for an exclusive license to the Bang & Olufsen and B&O PLAY brands within the automotive industry. Harman will assume all Bang & Olufsen Automotive customer programs, and all Bang & Olufsen Automotive development and production resources will be transferred to Harman. The agreement remains subject to certain customary closing conditions, including regulatory approvals.