Harman International Industries, known for their Harman Kardon, JBL and Infinity audio brand is bought out by KKR and Goldman Sachs Group for about $7.8 billion.
The WSJ quotes the Harman founder Sidney Harman: "The agreement is in the best interest of our stockholders, presenting them with excellent value for their shares and the opportunity to participate in Harman's future growth."Harman is in the business since 54 years. Besides home entertainment Harman media and navigation systems are found in many luxury cars.
See also the Harman site.