Bang & Olufsen A/S plans to sell its automotive sound-system business to Harman International Industries Inc., the U.S. maker of JBL audio equipment, as the Danish company reorganizes to focus on consumer electronics.

Bang & Olufsen stock jumped the most in almost 25 years after Stamford, Connecticut-basedHarman said it will pay 145 million euros ($156 million) for the unit as well as technology license fees. Bang & Olufsen said separately that it will sell its minority stake in drug-dispensing equipment maker Medicom and is looking at options for its ICEpower amplifier unit.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.