It might be worthy of note when an OEM and aftermarket supplier spends $1 billion to beef up its connected car services.
Harman did so Wednesday, announcing two acquisitions that will allow it to offer advanced over-the-air service to car companies.
It is buying software company Symphony Teleca, based in Mountain View, CA and Red Bend Software, an Israeli company that specializes in over the air upgrading.
Harman said the purchases will help it focus on the Internet of Things and the connected car and home.
The deals emphasize the huge role software and sensors will play in the car in coming years.
“The Internet of Things (IoT) is ushering in a rapid convergence of experiences, content and commerce and advancing technology from digital to connected to intelligent systems. Software is driving this evolution and as a result, software solutions and services will be key to HARMAN’s continued success,” said Dinesh Paliwal, Harman CEO.
Harman says it will buy Symphony Teleca for a base purchase price of $780 million, plus unspecified cash. Red Bend is valued at $170 million, plus other cash based on achievement.
Source: TechCrunch
