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Harman buying Martin Professional for $146.1M

STAMFORD, Conn. (AP) -- Harman International is buying lighting company Martin Professional for $146.1 million.

The deal will give the audio gear company broader entry into the live stage performance business, said Chairman and President Dinesh Paliwal.

Martin Professional, based in Denmark, provides lights for the entertainment, architectural and commercial sectors.

The transaction is expected to close early next year.

Harman International Industries Inc. is based in Stamford, Conn.