Sonova acquires Sennheiser consumer business
Tuesday, 11 May 2021
Sennheiser will now concentrate on the pro audio, business communications and Neumann business areas
Europe - Sennheiser and the Sonova Holding AG with headquarters in Stäfa, Switzerland, have confirmed their future cooperation under the Sennheiser brand. The global provider of medical hearing solutions will fully take over 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 had announced in February that it would focus on the professional business in the future while seeking a partner for the Consumer Electronics business.
Geeky Gadgets
10:06 am
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.”
Sennheiser acquired by hearing aid maker Sonova
Sennheiser has been acquired by Sonova, a Swiss company known for its medical audio and hearing aid products.
Akarsh Verma | May 9, 2021 | Updated 16:28 IST
Highlights
Sennheisers consumer electronic division has been bought by Sonova for 200 million.
Sennheiser had announced back in February that it was looking for a buyer for its consumer business.
The companys consumer business turnover was around 756.7 million in 2019.
A few months ago, Sennheiser made the surprising news that it was looking to let go of its consumer division by looking for a buyer. Now Sennheiser has announced that Switzerland-based Sonova Holding AG has acquired its consumer audio division.
Sennheiser acquired by hearing aid maker Sonova Akarsh Verma
A few months ago, Sennheiser made the surprising news that it was looking to let go of its consumer division by looking for a buyer. Now Sennheiser has announced that Switzerland-based Sonova Holding AG has acquired its consumer audio division.
Sonova, which is best known for producing medical-grade hearing aids, has agreed to pay Sennheiser 200 million (Rs. 1780 cr.) for the business. According to Sennheiser, its consumer audio business turnover for 2019 was 756.7 million (Rs. 6750 cr.)
Sonova is known for hearing aids and cochlear implants, thus this will be a huge boost to the company s lineup and a completely new direction for it to take within the consumer market moving forward.
Sonova acquires Sennheiser Consumer Business
Both companies will work together under the Sennheiser brand in the future May 07, 2021
Sennheiser and the Sonova Holding AG with headquarters in Stäfa, Switzerland, today announced their future cooperation under the Sennheiser brand. The global provider of medical hearing solutions will fully take over 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 had announced in February that it would focus on the Professional business in the future while seeking a partner for the Consumer Electronics business.
Consumer Electronics products from Sennheiser stand for the best sound and a unique audio experience. With the takeover of the Sennheiser Consumer business, Sonova is adding headphones and soundbars to its hearing care portfolio, which includes hearing aids and cochlear implants, among other hearing solutions. Sonov