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Samsung Electronics acquires Harman for USD8 billion

Law firm Paul Hastings has represented Samsung Electronics in its USD8 billion acquisition of Harman International Industries.

Harman provides connected car solutions, with more than 30 million vehicles currently equipped with its connected car and audio systems, including embedded infotainment, telematics, connected safety, and security.
Through the acquisition, Samsung will add Harman’s experience designing and integrating sophisticated in-vehicle technologies, and position itself to leverage Harman’s long-term relationships with most of the world’s largest automakers, creating growth opportunities for the combined business.
The transaction is Samsung’s largest-ever acquisition, and is the largest Korean outbound M&A transaction on record.
Paul Hastings has represented Samsung Electronics in previous acquisitions and dispositions, including its acquisition of Dacor, an American brand in the luxury home appliance category; the mobile connectivity and location technology business of CSR; and the sale of its fibre optics business to Corning.
The Paul Hastings team was led by Carl Sanchez, chair of the firm’s global M&A practice, Daniel Kim, head of the firm’s Korea corporate practice, and Matthew Berger, chair of the firm’s technology transactions practice, with support from partner Nathalia Bernardo, Scott Flicker, Edward Han, Stephen Harris, Scott Hataway, Dong Chul Kim, Woojae Kim, Pierre Kirch, Tiffany Lee, Thomas Mounteer, Deyan Spiridonov, and Peter Stone, and associates Nicholas Ahn, Taylor Denson, M’Alyssa Mecenas, Sean Murphy, Albert Nah, Todd Schneider, Annie Su, Steven Wright, and Spencer Young.

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