Masimo Corporation (MASI) saw its stock soar 5.02% in intraday trading following the announcement that Samsung Electronics, through its subsidiary Harman International, has acquired Masimo's audio business unit for $350 million.
The acquisition deal includes several renowned audio brands owned by Masimo, such as Boston Acoustics, Bowers & Wilkins, Classé, Definitive Technology, Denon, HEOS, Marantz, and Polk Audio. This move positions Samsung to become a powerhouse in the audio segment, leveraging the reputation and quality associated with these premium brands.
For Masimo, a company primarily known for its medical technology, this divestiture of its audio division could allow it to focus more on its core healthcare business. Meanwhile, the substantial cash infusion from the sale is likely driving investor optimism, contributing to the significant stock price increase. The deal also highlights the value of Masimo's diverse portfolio and could potentially lead to further strategic moves in the future.
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