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Jim Cramer is circling back to a company for a product that you probably used on your way to work this morning. Harman International Industries develops, manufactures and markets high-end speakers for car stereos and infotainment systems that integrate navigation, media, safety solutions and smartphone connectivity.
It recently made acquisitions that could change the way you drive to work forever.
Though the company is the No. 1 proprietary technology play, the stock has been taken to the woodshed because of the weakness in Europe. While Harman is expected to report next week, Cramer has seen that this company has a history of delivering upside surprises.
The reason why the "Mad Money" host thinks this one is worth taking a second look at is that Harman announced two acquisitions.
The first acquisition was Red Bend Software for $170 million, a provider of software management technology for connected devices. However, as the popularity of the driverless car has grown, so have concerns about cybersecurity hacks.
To find out more, Cramer sat down with Harman International Industries CEO Dinesh Paliwal.
The CEO shared that a typical mid-end to high-end car has 70 to 80 computers in it, which were never designed to be connected to the cloud.
"Now you are starting to bring in good data and good well intentions, but the bad guys are also eyeing it. They want to have a pile-up; this is like a terrorist attack. This is big mayhem waiting to happen, unless we do something," said Paliwal.
Red Bend will provide a solution to hacking worries in driverless cars, by updating the software and firmware apps as needed. It will also provide a virtualization of cybersecurity software as an added layer, based on technology that is utilized in banks currently.
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The second acquisition that Harman announced was Symphony Teleca for $780 million, a product development and software service outsourcing company.
"I hope that with the marriage of these two companies, they will be able to use all of the resources Harman has and also have large access to the companies like BMW, Daimler and Toyota, where independently they might not be able to have that access. We see a massive synergy here once we integrate the company," Paliwal added.