Sennheiser and the Sonova Holding AG, headquartered in Stäfa, Switzerland, have announced their future cooperation. The global provider of medical-hearing solutions will fully acquire Sennheiser’s Consumer Electronics business. Subject to regulatory approval, the plan is to complete the transfer of the business to Sonova by the end of 2021. Sennheiser announced in February that it would focus on its Professional business in the future while seeking a partner for the Consumer Electronics business.
With this acquisition, Sonova is adding headphones and soundbars to its hearing-care portfolio, which includes hearing aids and cochlear implants, among other hearing solutions. Sonova will leverage the complementary competencies of both companies to strengthen and further expand its business areas in the future.
“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,” co-CEO Dr. Andreas Sennheiser added. “We are convinced that Sonova will strengthen the Sennheiser Consumer Business in the long term and capture the major growth opportunities.”
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 employees working for the company’s consumer business will move to Sonova.
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