{"id":847617,"date":"2025-05-06T16:31:06","date_gmt":"2025-05-06T20:31:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/masimo-to-sell-consumer-audio-business-to-harman-international\/"},"modified":"2025-05-06T16:31:06","modified_gmt":"2025-05-06T20:31:06","slug":"masimo-to-sell-consumer-audio-business-to-harman-international","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/masimo-to-sell-consumer-audio-business-to-harman-international\/","title":{"rendered":"Masimo to Sell Consumer Audio Business to HARMAN International"},"content":{"rendered":"

<\/p>\n

Masimo to Sell Consumer Audio Business to HARMAN International<\/b><\/p>\n

Divestiture Supports Masimo\u2019s Focus on Core Professional Healthcare Business and Delivering Market Leading Innovation<\/i><\/b><\/p>\n

IRVINE, Calif.–(BUSINESS WIRE<\/a>)–
\nMasimo Corporation (Nasdaq: MASI), a leading global medical innovator, today announced that it has entered into a definitive agreement to sell its Sound United consumer audio business to HARMAN International (\u201cHARMAN\u201d), a wholly-owned subsidiary of Samsung Electronics Co., Ltd., for an aggregate purchase price of $350 million in cash, subject to certain adjustments. The sale follows the previously announced review of Masimo\u2019s consumer audio business and will support the Company\u2019s strategic focus on driving innovation in its core professional healthcare segment. The transaction is expected to close by the end of 2025, subject to receiving necessary regulatory approvals.\n<\/p>\n

\nQuentin Koffey, Vice Chairman of Masimo\u2019s Board of Directors, stated, \u201cFinding the right home for this business has been a stated priority of the new Board from day one, and this transaction represents an important milestone as we continue to position the Company to achieve our goals of accelerating revenue growth while delivering disciplined margins. Masimo has tremendous opportunities ahead and we are confident we have the right healthcare-focused strategy, experienced leadership team and culture of innovation in place to build on our significant positive momentum.\u201d\n<\/p>\n

\nDave Rogers, President of HARMAN\u2019s Lifestyle division, said, \u201cThis acquisition represents a strategic step forward in the expansion of HARMAN\u2019s core audio business and footprint across key product categories such as Home Audio, Headphones, Hi-fi components, and Car Audio. It complements our existing strengths and opens new avenues for growth. Sound United\u2019s portfolio of world-class audio brands including Bowers & Wilkins, Denon and Marantz, will join HARMAN\u2019s iconic family of brands, including JBL, Harman Kardon, AKG, Mark Levinson, Arcam, and Revel. Built on a shared legacy of innovation and excellence in audio technology, this combined family of brands, together with the talented employees of both companies, will deliver complementary audio products, strengthen our value proposition and offer more choices to consumers.\u201d\n<\/p>\n

\nKatie Szyman, Chief Executive Officer of Masimo, said, \u201cSince I took over as CEO, a key objective has been refocusing our business to ensure we are allocating time and resources to areas of unmet clinical need and driving growth and operational efficiencies. This transaction aligns with these objectives. Our consumer audio business and its talented team will be well positioned for growth and success under HARMAN\u2019s leadership.\u201d\n<\/p>\n

\nThe transaction is subject to the satisfaction or waiver of certain closing conditions, including the receipt of any required regulatory approvals.\n<\/p>\n

\nCenterview Partners LLC and Morgan Stanley & Co. LLC served as financial advisors to Masimo and Sullivan & Cromwell LLP served as legal advisor to Masimo in connection with the transaction.\n<\/p>\n

About Masimo
\n
<\/b>Masimo (NASDAQ: MASI) is a global medical technology company that develops and produces a wide array of industry-leading monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. In addition, Masimo Consumer Audio is home to eight legendary audio brands, including Bowers & Wilkins, Denon, Marantz, and Polk Audio. Our mission is to improve life, improve patient outcomes, and reduce the cost of care.\n<\/p>\n

About HARMAN
\n
<\/b>HARMAN (harman.com) designs and engineers connected products and solutions for automakers, consumers, and enterprises worldwide, including connected car systems, audio and visual products, enterprise automation solutions; and services supporting the Internet of Things. With leading brands including AKG\u00ae, Harman Kardon\u00ae, Infinity\u00ae, JBL\u00ae, Lexicon\u00ae, Mark Levinson\u00ae and Revel\u00ae, HARMAN is admired by audiophiles, musicians and the entertainment venues where they perform around the world. More than 50 million automobiles on the road today are equipped with HARMAN audio and connected car systems. Our software services power billions of mobile devices and systems that are connected, integrated and secure across all platforms, from work and home to car and mobile. HARMAN has a workforce of approximately 30,000 people across the Americas, Europe, and Asia. In 2017, HARMAN became a wholly owned subsidiary of Samsung Electronics Co., Ltd.\n<\/p>\n

Forward-Looking Statements \u2013 Masimo
\n
<\/b>All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, the statements about our expectations regarding the expected timeline to closing of the transaction. These forward-looking statements are based on management\u2019s current expectations and beliefs and are subject to uncertainties and factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to (i) the inability to obtain, or delays in obtaining, any required regulatory or other approvals for the transaction, or failure to consummate or delay in consummating the transaction for any other reasons; (ii) the risk that a condition to closing of the transaction may not be satisfied; (iii) the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction; (iv) the outcome of any legal proceedings that may be instituted following announcement of the transaction; (v) potential unfavorable reactions to the transaction by customers, competitors, suppliers, employees and Company stockholders; and (vi) each party\u2019s ability to satisfy its respective obligations in connection with the transaction; and other factors discussed in the \u201cRisk Factors\u201d section of our periodic reports filed with the Securities and Exchange Commission (\u201cSEC\u201d), including our most recent Form 10-K and Form 10-Q, all of which you may obtain for free on the SEC\u2019s website at www.sec.gov<\/a>. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250506528578\/en\/<\/a><\/span><\/p>\n

Masimo Contacts:<\/b><\/p>\n

Media
\n<\/b>
Evan Lamb
\n
Phone: (949) 396-3376
\n
Email: elamb@masimo.com<\/a><\/p>\n

\nOR\n<\/p>\n

\nLongacre Square Partners
\n
masimo@longacresquare.com<\/a><\/p>\n

Investors
\n<\/b>
Eli Kammerman
\n
Phone: (949) 297-7077
\n
Email: ekammerman@masimo.com<\/a><\/p>\n

HARMAN Contacts
\n<\/b>
Carole Campbell
\n
Phone: +49 171 867 4151
\n
Email: carole.campbell@harman.com<\/a><\/p>\n

\nDarrin Shewchuk
\n
Phone: (203) 554-9103
\n
Email: Darrin.shewchuk@harman.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Audio\/Video Consumer Electronics Aftermarket Technology Automotive<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Masimo to Sell Consumer Audio Business to HARMAN International Divestiture Supports Masimo\u2019s Focus on Core Professional Healthcare Business and Delivering Market Leading Innovation IRVINE, Calif.–(BUSINESS WIRE)– Masimo Corporation (Nasdaq: MASI), a leading global medical innovator, today announced that it has entered into a definitive agreement to sell its Sound United consumer audio business to HARMAN International (\u201cHARMAN\u201d), a wholly-owned subsidiary of Samsung Electronics Co., Ltd., for an aggregate purchase price of $350 million in cash, subject to certain adjustments. The sale follows the previously announced review of Masimo\u2019s consumer audio business and will support the Company\u2019s strategic focus on driving innovation in its core professional healthcare segment. The transaction is expected to close by the end of 2025, subject to … <\/p>\n

Continue reading “Masimo to Sell Consumer Audio Business to HARMAN International”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-847617","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nMasimo to Sell Consumer Audio Business to HARMAN International - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/masimo-to-sell-consumer-audio-business-to-harman-international\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Masimo to Sell Consumer Audio Business to HARMAN International - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Masimo to Sell Consumer Audio Business to HARMAN International Divestiture Supports Masimo\u2019s Focus on Core Professional Healthcare Business and Delivering Market Leading Innovation IRVINE, Calif.–(BUSINESS WIRE)– Masimo Corporation (Nasdaq: MASI), a leading global medical innovator, today announced that it has entered into a definitive agreement to sell its Sound United consumer audio business to HARMAN International (\u201cHARMAN\u201d), a wholly-owned subsidiary of Samsung Electronics Co., Ltd., for an aggregate purchase price of $350 million in cash, subject to certain adjustments. The sale follows the previously announced review of Masimo\u2019s consumer audio business and will support the Company\u2019s strategic focus on driving innovation in its core professional healthcare segment. 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