Harman, Martin Pro deal to create ‘one stop shop’
Subject to regulatory approvals, the deal that will see audio giant Harman International Industries acquire lighting company Martin Professional is due to close in Q1. The resulting combination, say Harman and Martin, will yield a ‘one stop shop’ for the professional entertainment market.
New, innovative and improved products and services are expected to result from the deal, which will entail the combination of two of the largest R&D budgets in the audio and entertainment industry.
Martin Professional will continue as an independent business unit within the Harman Professional Division, with the existing points of contact.
Blake Augsburger, executive vice-president and president of the Harman Professional Division, comments: “Martin product lines are an excellent complement to our professional audio business. After the transaction closes, we will be able to offer a full line-up of audio, lighting and video solutions for the live stage as well as permanent venues and installations.”
Christian Engsted, CEO of Martin Professional, adds: “We very much look forward to exploring the mutual benefits this change in ownership offers and continuing to develop our business relationship with our customers and partners across the globe.”