Harman To Acquire Red Bend Software For $170M

January 22, 2015 | Harman, a world leader in audio and visual technologies, announced that it will acquire the Israel-based company Red Bend software for $170 million. Harman hopes to accelerate Red Bend’s growth in the automotive space and it will position Red Bend as the de facto standard for OTA software for mobile devices and for automotive applications. Red Bend is a leading provider of software management tools for connected devices, as well as OTA software and firmware upgrading services. Harman will pay approximately $99 million in stock and $71 million in cash as part of the transaction, and Red Bend will operate as an independent unit of Harman in Israel. Red Bend was founded in 1999 by CTO Sharon Peleg.