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HARMAN TO ACQUIRE AMX

Harmon

Harman International Industries, Inc., has signed an agreement with The Duchossois Group, Inc. and its affiliates to acquire AMX LLC (Richardson TX) for US$365 million. AMX is a provider of enterprise control and automation systems, and audio and video switching and distributing solutions. The transaction is subject to customary closing conditions, including applicable regulatory approvals.

Dinesh C. Paliwal, Chairman/President/CEO of Harman, said. “Harman is the leader in smart connectivity. Our vision is to extend our reach beyond the car into the enterprise, where we already have a substantial audio presence.” He added, “AMX is the global technology leader in enterprise control and automation, as well as audio and video switching and distribution. With the addition of AMX, Harman will be uniquely positioned to provide complete audio, video, lighting and automation solutions to our customers globally.” AMX employs more than 600 people across its operations in 19 locations worldwide.

“Starting with the acquisition of Martin lighting last year, Harman has set forth a clear strategy to add visual solutions to our legacy of audio offerings,” said Blake Augsburger, President, Harman Professional division. “AMX’s strong portfolio of video distribution hardware and software is a significant step into the video domain, reinforcing Harman’s commitment to expand our professional portfolio with industry-leading technologies and brands in adjacent and complementary markets.”

“The sale to Harman fulfills one of our fundamental objectives, which was to position this business with a leading entity that will take AMX to an even higher level of performance and success,” said Robert L. Fealy, President/COO, the Duchossois Group, and Chairman of AMX.

AMX will be integrated into Harman’s Professional division, which incorporates AKG Acoustics, BSS Audio, Crown amplifiers, dbx, JBL Professional, Lexicon, Soundcraft, Studer and Martin lighting. Harman’s Professional division designs, manufactures and markets professional audio and lighting products for recording and broadcast, musicians, cinema, touring sound, commercial applications like airports, stadiums, hotels and concert halls. Harman systems are installed in entertainment and hospitality complexes, transportation centers, and cultural and academic institutions around the globe.

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