The extensive reorganization culminated in the sale of the Studer Group to Harman International Inc., in March 1994. The Revox Group was excluded and sold to private investors. On March 17, 1994, Harman International Industries completed its acquisition and acquired from Motor-Columbus AG 100% of Studer Revox AG. Harman paid 100 Swiss Francs (approximately US $70.00) for all of the issued and outstanding stock in Studer Revox. Harman assumed post-acquisition indebtedness of Studer Revox of approximately 23 million Swiss Francs (approximately US $16 million).