At a press conference at the start of the InfoComm 2014 show, it was announced that the acquisition of AMX by Harman has been completed. Blake Augsburger, president of Harman Professional, and Rashid Skaf (pictured), president and CEO of AMX, both spoke of their enthusiasm for the 'marriage' of the two companies.
Skaf pointed out that the two companies are a good fit in terms of technology, markets and geographies. There is very little overlap in terms of products; in terms of vertical markets, Harman is strong in events, broadcasting, houses of worship and stadiums, while AMX is well established in education, business and governmental markets; and while both companies are strong in North America Europe and Australia, Harman additionally is well established in the BRIC countries. "AMX has built up a great set of solutions over the years," said Skaf. "[The two companies] can work separately but bringing us together makes us even stronger."
Augsburger described AMX as "a perfect addition to our family". As well as increasing Harman's share of the installation market, the acquisition is a good fit with the company's "total AV strategy". "Bringing together audio, video and lighting could be radical," he said, pointing out that he combined companies will have buying power "second to none", "unmatched" R&D assets and a roster of more than 5,400 patents.
AMX's headquarters will remain in Dallas. A cross-functional team will be created to start developing the next generation of Harman-AMX products.
One of the questions submitted by journalists ahead of the press conference asked whether Harman's portfolio might be further rounded out in the future by the acquisition of a company in the video display market. "I hope so!" said Augsburger.