Harman to Acquire German Stereo Maker
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Harman International Industries Inc., a Northridge-based manufacturer of stereo equipment, said it has agreed to acquire a German car stereo manufacturer for 400,000 shares of Harman stock plus cash and debt totaling about $60 million.
The German company, Becker GmbH, has annual sales of about $200 million and supplies auto maker Mercedes-Benz with car stereos equipped with cassette and compact-disc players, Harman said.
“In Becker, we have acquired one of the best digital and engineering centers in Europe,” said Sidney Harman, chairman of Harman International. Harman said Becker will help prepare Harman International for a new “digital age” in radio frequency broadcasts and other electronic applications.
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