Swiss company Sonova well-known for its medical audio products such as hearing aids has this month purchased the consumer electronics division of Sennheiser. Even though the contract is still subject to regulatory approval, the deal is expected to close sometime in the second half of 2021. Sennheiser had announced in February that it would focus on its professional business in the future while seeking a partner for the consumer electronics business, which are now seems to have found.
“We couldn’t have asked for a better partner than Sonova for our consumer electronics business,” said Daniel Sennheiser, co-CEO at Sennheiser. “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.”
“The combination of our strengths provides an very good starting point for future growth. We are convinced that Sonova will strengthen the Sennheiser consumer business in the long term and capture the major growth opportunities,” added Co-CEO Dr. Andreas Sennheiser.
As part of the partnership, a complete transfer of operations of the consumer electronics business to Sonova is planned. This will be aligned with the Sennheiser works councils. Currently, a total of around 600 Sennheiser employees works for the Sennheiser consumer business.”
Source : AV Network
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