Samsung lapped up Harman International last year for $8 billion to strengthen its connected automobile and consumer audio portfolio. Later, the company started using Harman-owned AKG's audio technologies into its mobile devices and accessories. Harman and Samsung recently showcased new entertainment products that are a result of their close collaboration. Now, Harman has announced that it has acquired the UK-based A&R Cambridge Ltd. (also known as Arcam).
Arcam was founded by two Cambridge University students in 1976, and it sells high-end amplifiers, AV receivers, Blu-ray players, DACs, and speakers. Some of its products feature Dolby Atmos and Spotify Connect. The company has 35 employees, and they work out of Cambridge. Arcam's current management team, including its managing director Charlie Brennan, will remain in Cambridge and become a part of Harman's Lifestyle Audio division. Arcam and Harman haven't disclosed the terms of the deal.
“We are extremely grateful to Jam Industries for their loyal support over the last decade and believe that we will be able to develop even better products for music lovers who demand great sound as part of Harman,” Brennan said.
“We are proud of what we have accomplished with Arcam over the last 10 years, expanding the company from its U.K. roots to become a globally-recognized hi-fi brand. Now with Harman, a world leader in professional, lifestyle, and automotive audio and sound management, Arcam will join the best in the business to grow its engineering capabilities and extend its product reach into new markets,” said Martin Szpiro, president and CEO of Jam Industries.
Christopher M. Dragon, Harman senior director of marketing, said, “We have found in Arcam a like-minded passion for bringing the highest quality sound into people's lives. With impressive technologies and outstanding talent, Arcam will be an exceptional addition to Haman’s luxury audio team. As demand for higher quality audio rapidly accelerates, we are eager to seize the many opportunities in front of us.”
