Smart cars behind Samsung's $8B bid for Harman

Electronics giant Samsung on Monday said it will buy U.S. car and audio systems supplier Harman International for $8 billion. South Korean electronics giant Samsung looks to very quickly get up to speed in the highly-competitive smart car business with its $8 billion acquisition of U.S. car and audio systems supplier Harman International The all-cash deal will see Samsung buy the Stamford, Conn.-headquartered firm for $112.00 per share. It is the biggest acquisition in Samsung's history, the company said. Automotive electronics is expected to grow to more than $100 billion by 2025, estimates Samsung, which has made the segment a strategic priority. But the electronics titan -- hit in recent weeks by the recalls of its Galaxy Note 7 smartphone and some washing machines with tops that could detach -- is playing catchup in smart cars to competitors such as Apple, which has a CarPlay feature available in a growing number of vehicles, and Google and its Android Auto in-car platform.