Harman Purchases Arcam for Unknown Terms
Harman International, a wholly owned subsidiary of Samsung Electronics, has purchased premium British hi-fi company A&R Cambridge (Arcam), a wholly owned subsidiary of JAM Industries, for an undisclosed amount.
Picked up last year for $8 billion dollars, Harman has a deep portfolio of brands including JBL, Lexicon, AKG, and Mark Levinson. Arcam became wholly owned by Montreal-based JAM Industries in 2012. Arcam brings a long list of high-performance audio products, such as DACs, speakers, and amplifiers.
“Harman’s mission is clear: to elevate experiences wherever people are, at work, at home, in the car or on the go,” said Christopher M. Dragon, senior director marketing, Lifestyle. “With a strong audio heritage, we relentlessly pursue innovations that will enable us to deliver the best solutions for our customers and consumers. We have found in Arcam a likeminded passion for bringing the highest quality sound into people's lives. With impressive technologies and outstanding talent, Arcam will be an exceptional addition to Harman’s luxury audio team. As demand for higher quality audio rapidly accelerates, we are eager to seize the many opportunities in front of us.”
Arcam's 35 Cambridge-based employees will remain in their home - for now - as will the sales and distribution channels in the US.
“We are proud of what we have accomplished with Arcam over the last 10 years, expanding the company from its UK roots to become a globally-recognized Hi-Fi brand,” says Martin Szpiro, president and CEO of Jam Industries. “Now with Harman, a world leader in professional, lifestyle and automotive audio and sound management, Arcam will join the best in the business to grow its engineering capabilities and extend its product reach into new markets.”