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Samsung’s audio electronics company, Harman International Industries, acquired the New York-based Roon music streaming platform. This is a strategic deal to help the company increase its market in the digital audio sector.
Samsung Electronics Co. announced Harman’s acquisition of Roon on Tuesday, Nov. 28. The deal is also expected to bolster its presence in the business.
Business Arrangement After Acquisition
According to Yonhap News Agency, it was agreed that Roon will remain a standalone company even after being purchased by Samsung’s audio electronics subsidiary. This means the platform will continue to operate independently with its executives intact.
Harman’s parent company said that Roon’s comprehensive music management and listening solution will be integrated into its Nucleus, the brand’s major operating system and manufacturing hardware server. In any case, the companies did not disclose the deal's financial details.
Looking Ahead to Better Service Offering Through the Tie-Up
Samsung’s Harman welcomed Roon to its group and said it is excited to work with the company’s impressive talents who are set to join them in the company. It believes that working together will boost Harman’s already robust engineering expertise even more.
“At HARMAN we take great pride in our ability to create exceptional audio experiences for our partners and consumers around the world,” Harman’s president of lifestyle unit, Dave Rogers, said in a press release. “The team at Roon shares our passion in bringing exceptional sound and connectivity to music lovers as they browse, discover, and listen at home and on the go.”
Roon’s chief executive officer, Enno Vandermeer, also commented, “Our team is ecstatic to join HARMAN, a visionary company that has been leading the audio industry forward for decades. By combining forces with HARMAN, Roon gains the incredible scale, resources, and reach of a global technology leader, while maintaining our independence to invest in the business’s growth and future.”
Roon’s chief further said they are looking forward to continuously offering their advanced data management, SaaS expertise, and consumer engagement capabilities to the extensive range of partners. Vandermeer hopes their cooperation with Samsung’s Harman will also allow them to deliver even greater audio experiences to customers.
Photo by: Samsung Newsroom
