HARMAN International Acquires Duran Audio
Deploys Acquisition Strategy to Sustain Market Leadership, Continued Growth
STAMFORD, Connecticut – HARMAN, the leading global audio and infotainment company (NYSE: HAR), today announced the acquisition of privately-held Duran Audio BV. The acquisition provides HARMAN with access to innovative electro-acoustic and software-based directivity control technologies including the successful AXYS® Intellivox line of “steerable” columns. The AXYS products and core technologies will become an integrated part of the HARMAN Professional audio product line.
“Today’s acquisition of Duran Audio BV bolsters HARMAN’s stated commitment to advance our technology leadership through both R&D and acquisitions,” said Dinesh C. Paliwal, HARMAN’s Chairman, President, and Chief Executive Officer. “Over the years, Duran Audio has established a distinct and loyal customer base built on innovative technology. By leveraging Duran’s unique product lines with HARMAN’s global footprint and product synergies, our business is optimally positioned to serve new customers around the world with expanded audio solutions.”
Echoing this viewpoint, Gerrit Duran, founder of Duran Audio noted, “Our focus has always been on innovation. Over the years we have developed a range of solutions for some of the most difficult problems facing sound system designers, architects and acoustic engineers. Today’s acquisition by HARMAN presents many wonderful opportunities to push the R&D boundaries even further and to deliver some truly unique technologies to a wider customer base.”
The addition of Duran Audio to HARMAN’s portfolio of commercial audio and lighting technology companies underscores Harman’s strategy to complement continued growth through targeted acquisitions in adjacent technology and product areas across all geographic and vertical markets.
Founded in Zaltbommel, The Netherlands by Gerrit Duran in 1981, Duran Audio has earned a strong reputation for its AXYS range of professional audio products including loudspeakers, amplifiers, signal processors and network devices. Duran Audio pioneered modern loudspeaker “beam steering” and “beam shaping” which are essential to addressing demanding acoustic environments. The company has also established a leading position in audio solutions for European EN-54 safety applications and software technologies for audio design.
HARMAN (www.HARMAN.com) designs, manufactures, and markets a wide range of infotainment and audio solutions for the automotive, consumer, and professional markets. It is a recognized world leader across its customer segments with premium brands including AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon®, and Mark Levinson® and leading-edge connectivity, safety and audio technologies. The company is admired by audiophiles across multiple generations and supports leading professional entertainers and the venues where they perform. More than 25 million automobiles on the road today are equipped with HARMAN audio and infotainment systems. HARMAN has a workforce of about 14,000 people across the Americas, Europe, and Asia and reported sales of $4.3 billion for the fiscal year ended June 30, 2013.
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