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Harman Announces Successful Conclusion of $200M Sale of QNX Software Unit


STAMFORD, CT—Harman International Industries Incorporated, the global audio and infotainment group (NYSE:HAR), announced that the sale of its software operating systems unit, QNX Software Systems, closed on June 2, 2010. Harman has sold the business to Research In Motion Limited (RIM) of Waterloo, Ontario, Canada, for US$200M.

“We are very pleased to have found an excellent company that will take QNX to its next level of growth,” said Dinesh C. Paliwal, chairman, president, and chief executive officer at Harman. “This move allows Harman to continue its relationship with QNX and the advanced software solutions it provides to Harman and our customers.  At the same time, this deal achieves value for all stakeholders and is an important step in a new strengthened relationship with RIM.”

In addition to its range of premium audio products for the home and professional venues, Harman is the leading provider of automotive audio and infotainment systems for automakers worldwide.  Harman is executing its strategy to further penetrate emerging growth markets with new products and expanded operations in countries such as China, India, and Brazil.  Within the last year, the Company has launched new platform-based designs to address scalable, next generation infotainment systems as well as global navigation and connectivity offerings for entry-level luxury vehicles, each meeting the diverse multi-lingual and user-interface requirements of global markets. Currently, awarded business for Harman’s infotainment and audio solutions exceed US$10 billion. 

HARMAN ( designs, manufactures and markets a wide range of audio and infotainment solutions for the automotive, consumer and professional markets – supported by 15 leading brands including AKG®, Harman Kardon®, Infinity®, JBL®, Lexicon® and Mark Levinson®. The Company is admired by audiophiles across multiple generations and supports leading professional entertainers and the venues where they perform. More than 20 million automobiles on the road today are equipped with HARMAN audio and infotainment systems.  HARMAN has a workforce of about 11,000 people across the Americas, Europe and Asia, and reported sales of $3.2 billion for the last twelve months ended March 31, 2010.  The Company’s shares are traded on the New York Stock Exchange under the symbol NYSE:HAR.

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