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Samsung to buy American car parts maker for US$8b

Korea firm says deal will give it significant presence in global market for online-connected car parts
Wednesday, November 16, 2016 - 05:50

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Samsung is hoping to complete the deal, the biggest in the South Korean firm's history, by the third quarter of 2017 after getting approvals from Harman shareholders and regulators.

Seoul

SAMSUNG Electronics said on Monday it would buy US car parts maker Harman International Industries for US$8 billion in a bid to enter the growing market for automotive technology to produce "connected" cars.

The deal, the biggest in the South Korean firm's history, will

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