Stamford, Conn. — Harman International plans to buy AMX for $365 million, mainly to expand Harman’s control and automation presence in the enterprise market, but Harman will also pick up AMX’s home-automation business.
“Our vision is to extend our reach beyond the car into the enterprise, where we already have a substantial audio presence," said Dinesh Paliwal, Harman’s chairman, president and CEO. AMX offers enterprise control and automation as well as audio and video switching and distribution, he said. With the AMX acquisition, Harman “will be uniquely positioned to provide complete audio, video, lighting and automation solutions to our customers globally."
The planned acquisition follows the acquisition last year of Martin lighting to Harman’s professional division.
In the home-automation market, AMX also offers many products that Harman does not offer. AMX’s home products include whole-house automation, energy management, A/V distribution, lighting control, and security and intercom systems.
AMX employs more than 600 people across its operations in 19 locations worldwide.
Harman will purchase AMX from Duchossois Group. An expected closing date was not announced.
The purchase “will provide additional opportunities to grow the AMX business," said Robert Fealy, AMX chairman and Duchossois president/COO. The transaction “will take AMX to an even higher level of performance and success," he said.
AMX will be integrated into Harman’s professional division, which designs, manufactures and markets professional audio and lighting products for recording and broadcast, musicians, cinema, touring sound, and commercial applications such as airports, stadiums, hotels and concert halls.
A Harman spokesperson estimates the deal will close in 30 days. As for what Harman will do with AMX’s residential business, the spokesperson would say only that “it’s really premature to discuss this now.” Once the deal closes, he said, “we’ll offer more insight into how all aspects of the AMX business lines will integrate into our pro, enterprise, and consumer offerings.” The focus of the investment, however, “is on B-to-B in the enterprise space.”