Harman International Industries, Incorporated (NYSE:HAR) announced today that it has signed a global alliance with the B & W Group Ltd., a leading manufacturer of high-performance loudspeakers based in the United Kingdom. The agreement appoints Harman as global representative for future applications of Bowers & Wilkins technologies to the automotive OEM sector on an exclusive basis.
“This partnership adds a rich dimension to our automotive business, where brand differentiation is increasingly desired both by OEM customers and their end users,” said Dinesh Paliwal, Harman Chief Executive Officer. “Leading luxury automakers are currently installing solutions based on our Harman Kardon, Infinity, JBL, Lexicon, Mark Levinson, and other brands. We are delighted to add the legendary Bowers & Wilkins name to Harman’s family of premium brands, and we look forward to further enriching this important market segment.”
“We are very pleased to be partnering with Harman, the clear market leader, to further extend the Bowers & Wilkins brand and true sound experience in the automotive space,” added Joe Atkins, Chairman and Chief Executive Officer of the B&W Group.
Under the terms of the agreement, Harman will design and develop new branded audio solutions for the automotive sector in collaboration with Bowers & Wilkins. The two companies will blend their technical and commercial strengths based on more than 100 years of combined expertise in the premium audio field. Financial terms of the agreement were not disclosed.
Bowers & Wilkins built its first commercial loudspeaker in 1966, launching a tradition that led to such breakthrough technologies as Kevlar speaker cones, Nautilus Technology, diamond dome tweeters, matrix cabinet construction, and pressure vessel subwoofer technologies. Bowers & Wilkins products are respected by audio enthusiasts worldwide, and are deployed in prestigious professional settings such as London’s Abbey Road Studios. The B&W Group develops and markets products for home theater, hi-fi and multimedia applications under the Bowers & Wilkins, Classe’ and Rotel brand names.
Harman International Industries, Incorporated (http://www.harman.com), designs, manufactures and markets a wide range of audio and infotainment products for the automotive, consumer and professional markets. Harman International maintains a strong presence in the Americas, Europe and Asia, and employs more than 11,000 people worldwide. The Harman International family of brands includes AKG, Audioaccess, Becker, BSS, Crown, dbx, DigiTech, Harman Kardon, Infinity, JBL, Lexicon, Mark Levinson, Revel, QNX, Soundcraft and Studer. Harman International’s stock is traded on the New York Stock Exchange under the symbol NYSE:HAR.
