Joining forces is a natural extension of the automotive strategy we have been pursuing for some time.
Samsung Electronics is set to acquire Harman International for $8 billion, its largest acquisition ever, according to a Monday press release.
Harman makes "smart car" systems and audio/video setups.
Building the 'vehicle of tomorrow'
Samsung said its experience with semiconductors, user experience and global distribution would help both companies. “The vehicle of tomorrow will be transformed by smart technology and connectivity in the same way that simple feature phones have become sophisticated smart devices over the past decade,” wrote Young Sohn, Samsung president and chief strategy officer.
This kinda sounds like Samsung is interested in cars
Wouldn't be the first time. That's a photo of Renault Samsung Motors' concept car, the Eolab. Samsung still holds a minority ownership.
Harman also makes Harman/Kardon headphones. And Samsung's phones have headphone jacks...
2016 has not been kind to Samsung -- it's had to deal with a global recall of the Samsung Galaxy Note7 and also millions of washing machines, all of which were linked to fires.
WATCH | For more news you need, check out our 60 Second Circa.