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Today, Harman said that it has completed its acquisition of Sound United, adding Bowers & Wilkins, Denon, Marantz, Classé, Definitive Technology, Polk Audio, and Boston Acoustics to its portfolio.

Fiscal year 1998 will be one of diminished expectations for Harman">http://www.harman.com">Harman International Industries, Chairman Dr. Sidney Harman announced last week to assembled analysts and fund managers at a meeting in New York. He laid much of the blame on the continuing economic slump in Asia.

The Internet offers unprecedented opportunity for manufacturers to bring their products directly to their markets, but many companies have been reluctant to embrace it for fear of upsetting their established dealer networks. This has been especially true of mid-to-high-end audio companies, who have traditionally sold their wares through specialty shops.

Harman International Industries, Inc has agreed to be acquired by Goldman Sachs Capital Partners (GSCP) and Kohlberg Kravis Roberts & Co. (KKR) for a price of $120 per share (a total near $8 billion). The share price represents what Bloomberg.com characterized as a 17% premium over its price one day earlier. The company's stock had been increasing in value, having risen by about 2.6% since the beginning of 2007, but beginning April 18, the stock began to surge, "indicating some investors anticipated the buyout," according to Bloomberg. John Rogers, a Citigroup analyst, had predicted in February that Harman was choice for acquisition, estimating that private equity buyers could pay a premium of 20% over its share price and still see annual returns of 20%.

Following a recent announcement of "diminished expectations" for the near future (see previous">http://www.stereophile.com/news/10194/">previous story) and a shakeup of upper management---in which Consumer Group marketing honcho Tom Jacoby was put out to pasture and audio guru Floyd Toole was promoted to senior vice president of acoustic and transducer engineering---Harman">http://www.harman.com">Harman International Industries has put the finishing touches on a new 10,000-square-foot audio laboratory. At company headquarters in Northridge, CA, north of Los Angeles, the laboratory includes a 10,000-cubic-foot anechoic chamber for testing and measuring loudspeakers, and a multichannel room with computer-controlled, hydraulically operated platforms for positioning front left, center, and right speakers (a reviewer's dream!).

On February 18, Harman">http://www.harman.com">Harman International Industries Inc. announced that it had signed two licensing agreements with New">http://www.nxt.co.uk">New Transducers Limited (NXT) relating to NXT's flat-panel loudspeaker technology.

Audio manufacturers who know what's good for them avoid stepping on the toes of Bose">http://www.bose.com/">Bose, Inc. The Framingham, Massachusetts–based corporation is renowned for it ruthless marketing and zealous protection of its patents.

Dave McCurdy, president of the Electronic">http://www.eia.org/">Electronic Industries Alliance (EIA), announced last week that Dr. Sidney Harman, executive chairman of Harman">http://www.harman.com">Harman International Industries, has been selected to receive EIA's prestigious Medal of Honor for 2002.

Harman International announced July 1 that it will close its Madrigal facility in Middletown, CT on August 30 as it continues to consolidate and reorganize its high-end brands under the Harman">http://www.harmanspecialtygroup.com/">Harman Specialty Group banner. Although the name Madrigal was itself not used as a brand on audio products, it had been the umbrella under which Harman had produced and distributed its Mark Levinson, Revel, Audio Access, and (recently">http://www.stereophile.com/news/11612/">recently discontinued) Proceed brands.

In our latest, bonus video interview from Montreal Audiofest 2026, Robert Schryer speaks with Jeff Coates, director of sales for Harmonia Distribution, about the gear shown in the company's room, including Ø Audio Icon 12 speakers, a PrimaLuna EVO 100 tube DAC, and PrimaLuna EVO 400 preamplifier.