HARMAN International Industries today announced two acquisitions — Symphony Teleca for $780 million and Red Bend Software for $170 million — to strengthen presence in Internet of Things (IoT) business.
Based in Mountain View, CA, Symphony Teleca provides software engineering and integration services that help businesses design and develop products and technologies.
With the acquisition of Symphony Teleca, HARMAN will add a fourth division to its three primary businesses: Infotainment, Lifestyle and Professional. Symphony Teleca CEO Sanjay Dhawan will join HARMAN and lead the new business division.
“The acquisition of Symphony Teleca is a transformative step for HARMAN that gives us immediate scale in software services. With the addition of cloud, mobility and analytics competencies, we will accelerate solutions for the connected car and for a broader set of industries and markets,” said HARMAN CEO Dinesh C Paliwal.
Symphony Teleca has more than 8,000 employees, predominantly software engineers and designers, and the company generated revenues of nearly $370 million in 2014. The company works with clients including Google, Microsoft, Intel, Adobe, Jaguar Land Rover, Verizon, Comcast, Sirius XM and Tesco.
In telecom, Symphony Teleca has delivered more than 800 Android products, from mobile phones and tablets to televisions and wearables.
HARMAN has also acquired Israeli-based Red Bend Software, a provider of software management technology for connected devices, and over-the-air (OTA) software and firmware upgrading services.
Building upon Red Bend’s strength in the mobile and carrier markets, HARMAN will accelerate Red Bend’s growth in the automotive space and will position Red Bend software as standard for OTA software services for mobile devices and automotive applications.
Red Bend is the world’s leading provider of the most advanced OTA solutions, serving top handset manufacturers and mobile carriers with more than two billion Red Bend-enabled devices in the market globally.