Samsung may have competition for car audio system maker Harman International, one Wall Street firm said in a report on Tuesday.

William Blair & Co. said there is a a moderate chance Apple, Microsoft or an auto parts company will make a rival offer for Harman.

Samsung announced Monday it had agreed to buy Stamford, Conn.-based Harman for $8.9 billion, or $112 a share.

“The relationship between Samsung and Harman appears to be cozy already,” William Blair said. “So another offer may have to be substantially higher; given the premiums some technology firms appear willing to offer for the right strategic deal, however, we view the probability of another offer as moderate.

“While a no-shop clause limits the solicitation of other offers by Harman, outside offers can be entertained by the board,” the investment banking firm added.

Apple and Microsoft are developing autonomous driving systems that work with existing carmakers, as opposed to building self-driving cars.

“We would like to enable autonomous vehicles and assisted driving as well,” Peggy Johnson, the head of business development at Microsoft, said at a June conference.

“Harman maintains valuable relationships with automotive manufacturers, and its emerging technology in connected services positions it ahead of the competition regarding over-the-air updates, telematics and security features,” William Blair said. “As a result, we could see additional bids for Harman from other competitors such as Bosch or Denso, or even other technology/media players.”

Apple and Microsoft did not return calls.