Harman Spends $950 Million to Buy Two Software Companies

Harman International Industries Inc. is investing $950 million in two deals to expand its services and connected-devices capabilities.

The Stamford, Conn.-based company has agreed to pay $780 million to buy Symphony Teleca Corp. The Mountain View, Calif., company offers analytics, connected services, product development and engineering services for mobile and connected devices.

Harman also will spend $170 million to acquire Waltham, Mass.-based Red Bend Software Inc., which sells mobile software management technology for mobile phone makers and operators.

Harman generates revenue of $5.3 million per year, with about half coming from in-car navigation and infotainment products.