International. The lighting segments for architecture and entertainment in which the Martin Professional company specializes, will now strengthen Harman's portfolio of services and products, following the latter's purchase of the former.
With a transaction estimated at 110 million euros, Harman seeks greater solidity to open a market or position itself in different countries, emphasizing China, India, Russia and Brazil, which are part of the list called Bric, with its audio, video and lighting services for live events and facilities in venues.
Dinesh Paliwal, President of Harman, said: "With the acquisition of Martin Professional, our strategy to deliver system solutions for our customers will be further expanded as we are able to provide complete electronic solutions for audio and lighting."
As reported by both companies, the purchase agreement must be finalized during the first quarter of 2013, following all relevant legal authorizations for such a transaction.
Martin Professional President Christian Engsted added: "Our smart lighting solutions for tourism, events, theatre and facilities are a natural and perfect complement to Harman's professional audio business. Our customers expect increasingly advanced and integrated solutions and Harman's broad portfolio of technologies will enable us to generate new business opportunities."
