Harman Int'l acquired by KKR and Goldman Sachs

Danny Tse
Danny Tse Posts: 5,206
edited April 2007 in The Clubhouse
The industry consolidation continues....

http://www.bloomberg.com/apps/news?pid=20601087&sid=aLqDGl_O088E&refer=home

Harman Int'l is the parent company of well-known brands such as Karman Kardon, JBL, Infinity, dbx, AKG, Revel, Mark Levinson, etc.
Post edited by Danny Tse on
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  • aaharvel
    aaharvel Posts: 4,489
    edited April 2007
    Danny you beat me to it by about 20 min. :p

    And you also had a much better descriptive title than I did btw.
    H/K Signature 2.1+235
    Jungson MagicBoat II
    Revel Performa M-20
    Velodyne cht-10 sub
    Rega P1 Turntable

    "People working at Polk Audio must sit around the office and just laugh their balls off reading many of these comments." -Lush
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  • shack
    shack Posts: 11,154
    edited April 2007
    Danny Tse wrote: »
    The industry consolidation continues...

    Not really any consolidation here (ie: Polk and Directed Electronics)...at least not yet. Simply a purchase by a couple of buyout firms/investors at this point. Down the road you may see Harman split up and sold or sold intact to another consumer electronics firm which would be some consolidation. Right now they think it is undervalued.
    "Just because you’re offended doesn’t mean you’re right." - Ricky Gervais

    "For those who believe, no proof is necessary. For those who don't believe, no proof is possible." - Stuart Chase

    "Consistency requires you to be as ignorant today as you were a year ago." - Bernard Berenson
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  • POLKOHOLIC
    POLKOHOLIC Posts: 407
    edited April 2007
    some people made alot of money today

    http://finance.google.com/finance?q=har&hl=en
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  • dorokusai
    dorokusai Posts: 25,577
    edited April 2007
    Not alot, but enough to buy a few hamburgers.
    CTC BBQ Amplifier, Sonic Frontiers Line3 Pre-Amplifier and Wadia 581 SACD player. Speakers? Always changing but for now, Mission Argonauts I picked up for $50 bucks, mint.
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  • Dennis Gardner
    Dennis Gardner Posts: 4,861
    edited April 2007
    I find it odd that 2/3 of HK's revenue is from GPS/car audio contracts. I'm sure Harman and Bernard never would have imagined this.
    HT Optoma HD25 LV on 80" DIY Screen, Anthem MRX 300 Receiver, Pioneer Elite BDP 51FD Polk CS350LS, Polk SDA1C, Polk FX300, Polk RT55, Dual EBS Adire Shiva 320watt tuned to 17hz, ICs-DIY Twisted Prs, Speaker-Raymond Cable

    2 Channel Thorens TD 318 Grado ZF1, SACD/CD Marantz 8260, Soundstream/Krell DAC1, Audio Mirror PP1, Odyssey Stratos, ADS L-1290, ICs-DIY Twisted , Speaker-Raymond Cable
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  • POLKOHOLIC
    POLKOHOLIC Posts: 407
    edited April 2007
    dorokusai wrote: »
    Not alot, but enough to buy a few hamburgers.

    i dont know about you but 20% in a single day is alot. atleast in the market it is. consider the fact that last year the dow grew "only" 15%. if you had all of your money invested in this one stock, you have just beat the market.
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  • dorokusai
    dorokusai Posts: 25,577
    edited April 2007
    That's what I'm alluding to as I wish I had more of it.....get it?
    CTC BBQ Amplifier, Sonic Frontiers Line3 Pre-Amplifier and Wadia 581 SACD player. Speakers? Always changing but for now, Mission Argonauts I picked up for $50 bucks, mint.
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  • Danny Tse
    Danny Tse Posts: 5,206
    edited April 2007
    shack wrote: »
    Not really any consolidation here (ie: Polk and Directed Electronics)...at least not yet. Simply a purchase by a couple of buyout firms/investors at this point. Down the road you may see Harman split up and sold or sold intact to another consumer electronics firm which would be some consolidation. Right now they think it is undervalued.

    When an audio hardware manufacturer get purchased by entities not in the same line of business, it always spells trouble. I wouldn't have this type of worries if Harman Int'l was purchased by D&M Holdings (parent company to McIntosh, Marantz, Denon, Boston Acoustics, Snell, etc.), but this acquisition of Harman is almost like the purchase of Acoustic Research (AR) by Audiovox....I can see brands such as JBL and Infinity run into the ground while brands like Mark Levinson and Revel get plastered on $50.00 computer speakers.
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