Samsung Electronics’ $8 Billion acquisition of HARMAN


Paul Hastings represented Samsung Electronics in its US$8 billion acquisition of Harman International Industries, Inc.

HARMAN is the market leader in connected car solutions, with more than 30 million vehicles currently equipped with its connected car and audio systems, including embedded infotainment, telematics, connected safety, and security.

Through the acquisition, Samsung—a recognized industry leader in connected mobility, semiconductors, user experience, and displays with global distribution channels—will add HARMAN’s experience designing and integrating sophisticated in-vehicle technologies, and position itself to leverage HARMAN’s long-term relationships with most of the world’s largest automakers, creating significant growth opportunities for the combined business.

The transaction is Samsung’s largest-ever acquisition, and is the largest Korean outbound M&A transaction on record.

Paul Hastings has represented Samsung Electronics in previous acquisitions and dispositions, including its acquisition of Dacor, a leading American brand in the luxury home appliance category; the mobile connectivity and location technology business of CSR Plc; and the sale of its fiber optics business to Corning Inc.

The Paul Hastings team was led by Carl Sanchez (Picture), chair of the firm’s global M&A practice, and Daniel Kim, head of the firm’s Korea Corporate practice, and Matthew Berger, chair of the firm’s Technology Transactions practice,with support from partner Nathalia Bernardo, Scott Flicker, Edward Han, Stephen Harris, Scott Hataway, Dong Chul Kim, Woojae Kim, Pierre Kirch, Tiffany Lee, Thomas Mounteer, Deyan Spiridonov, and Peter Stone, and associates Nicholas Ahn, Taylor Denson, M’Alyssa Mecenas, Sean Murphy, Albert Nah, Todd Schneider, Annie Su, Steven Wright, and Spencer Young.

Involved fees earner: Daniel Kim – Paul Hastings; Carl Sanchez – Paul Hastings; Dong Chul Kim – Paul Hastings; Woojae Kim – Paul Hastings; Deyan Spiridonov – Paul Hastings; Nicholas Ahn – Paul Hastings; Sean Murphy – Paul Hastings; Jinkang Albert Nah – Paul Hastings; Spencer Young – Paul Hastings; Matthew Berger – Paul Hastings; Tiffany Lee – Paul Hastings; Todd Schneider – Paul Hastings; Annie Su – Paul Hastings; Nathalia Bernardo – Paul Hastings; Pierre Kirch – Paul Hastings; Scott Flicker – Paul Hastings; Edward Han – Paul Hastings; Peter Stone – Paul Hastings; Stephen Harris – Paul Hastings; M’Alyssa Mecenas – Paul Hastings; Tom Mounteer – Paul Hastings;

Law Firms: Paul Hastings;

Clients: Samsung Electronics;

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Author: Ambrogio Visconti