Switzerland-based hearing aid manufacturer, Sonova, has agreed to acquire Sennheiser’s consumer business for an undisclosed amount. The transfer of assets is expected to completed by the end of 2021.
In mid-February, the audio gadgets manufacturer had announced that they’re looking for a buyer for their consumer department as they shift focus to their professional business.
Following Sennheiser’s consumer business takeover, Sonova plans to add headphones and soundbars to its hearing care portfolio that includes cochlear implants and hearing aids. The new partnership will see potentially see Sennheiser offering speech-enhanced hearables for true wireless and audiophile headphones.
“Sonova is a strong, well-positioned company. Not only do we share a passion for unique audio experiences, we also share very similar corporate values. This gives us an excellent foundation for a successful future together,” said Daniel Sennheiser, co-CEO at Sennheiser.
The two companies have also made agreed to a license agreement for the future use of the name Sennheiser as both will continue to work under the joint Sennheiser brand umbrella.
Headquartered in Stäfa, Switzerland, Sonova Holding AG will be handed over the complete operations of Sennheiser’s consumer electronics business, and the employees will be moving over to Sonova as well. Sennheiser says that their consumer business currently employees around 600 people.
Sennheiser will shift its focus and resources to Pro Audio, Business Communications and Neumann business areas. The company plans to grow these.
“Combining our audiological expertise with Sennheiser’s know-how in sound delivery, their great reputation, as well as their high-quality products, will allow us to expand our offering and to create important touchpoints with consumers earlier in their hearing journey,” said Arnd Kaldowski, CEO of Sonova.
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