Harman acquires lighting firm Martin Professional

The American multinational Harman International Industries has reached an agreement to acquire the Danish company Martin Professional, dynamic lighting solutions provider for the entertainment industry, architectural and commercial sectors, by 110 million euros.

Harman International Industries has signed an agreement with Schouw & Co., parent company of Martin Professional, for the purchase of the Danish dynamic lighting solutions provider. The transaction is subject to customary closing conditions., including regulatory approvals, and is expected to close in the first quarter of 2013. Through this new combination, Harman and Martin are convinced that their comprehensive offering of audio solutions, lighting and video for performances and live events, as well as headquarters and permanent facilities, will provide new and exciting opportunities and take customer satisfaction to even higher levels.

The incorporation of Martin to this international North American group and the combination of two of the largest audio and lighting portfolios will allow both companies to grow and improve the lighting and video offering for the benefit of all clients.. The two companies are confident that they will not only consolidate their respective positions in their industries, but, besides, and no less important, that your customers will be more successful by offering new products, services and solutions, innovative and improved, in the future.

The President of Martin Professional, Christian Engsted, has manifested: “We are very excited about the prospect of an integrated solution that incorporates Martin Professional products with Harman's professional audio brands and technologies.. Our smart lighting solutions for tourism, events, theater and facilities are a natural and perfect complement to Harman's pro audio business. Our customers expect increasingly advanced and integrated solutions and Harman's extensive portfolio of technologies will allow us to generate new business opportunities. We are very eager to explore the mutual benefits of this transaction and continue to develop our business relationship with our customers and partners around the world.”.

For your part, Dinesh C. Paliwal, president, President and CEO of Harman, has pointed out: “We look forward to welcoming the dynamic innovations of Martin Professional. This acquisition will be an excellent complement to our professional business serving all of our global markets., including the fast-growing BRIC nations. With the acquisition of Martin Professional, Our strategy of providing system solutions for our customers will also be strengthened as we will be able to offer a complete audio and lighting solution for live performances and events., as well as events and permanent installations. We look forward to unlocking this potential new business. “.

Also, Blake Augsburger, executive vice president and president of Harman Professional Division, has stated: “Martin's product lines are an excellent complement to our professional audio business. After the transaction is closed, We will be able to offer a complete line of audio solutions, lighting and video for live performances and events and permanent installations.”

Martin Professional will continue as an independent business unit within the Harman Professional division, with current points of contact.