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Sonova acquires German audio brand Sennheiser s consumer biz By IANS | 5 Views Sonova acquires German audio brand Sennheiser s consumer biz. Image Source: IANS News New Delhi, May 7 : Swiss hearing care solutions provider Sonova has acquired the consumer electronics business of German audio brand Sennheiser for an undisclosed sum, the companies announced on Friday. 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 its consumer electronics business. We couldn t have asked for a better partner than Sonova for our Consumer Electronics business, said Daniel Sennheiser, co-CEO at Sennheiser. ....
Sennheiser sells off its consumer brand Long-running German audio company Sennheiser today announced that it has found a buyer for its consumer brand. Swiss holding company Sonova a giant in the hearing aid business will be acquiring the brand in a deal expected to close by end of year. The deal will bring headphones and sound bars to Sonova’s existing portfolio, which is largely centered around healthcare products. Among other things, however, the deal could have interesting implications for the so-called hearables category, which can walk the line between headphones and healthcare products. Sennheiser, meanwhile, will shift the entirety of its focus to its pro products. ....
Sonova acquires Sennheiser Consumer Electronics business 7th May 2021 Swiss-based medical hearing solutions provider Sonova Holding AG has acquired 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 planned to focus on its professional business divisions while seeking a partner for its CE arm. The takeover allows Sonova to add headphones and soundbars to its portfolio, which currently comprises hearing aids and cochlear implants. The move will allow Sennheiser to concentrate its resources on the Pro Audio, Business Communications and Neumann business areas. In these three business units, the company says it plans to continue to grow ‘at an above-average rate under its own power and to expand its already strong position in the global market.’ ....
Sennheiser has sold off its consumer electronics division, which includes the company’s portfolio of excellent headphones. In a deal worth €200 million, Swiss company, Sonova, will now own Sennheiser’s consumer electronics division. Sennheiser began looking to sell its consumer electronics division back in February due to competitive pressure. As pointed out by The Verge, Sennheiser saw record sales in 2019, but due to dwindling profit margins, the company still lost money on its consumer electronics division. Sonova, a Swiss company best known for medical audio products like hearing aids, will now be taking over Sennheiser’s consumer electronics division. In a statement, Andreas and Daniel Sennheiser explained that they will now be turning their attention to Pro Audio, digital services and business communications. Meanwhile, Sonova will be adding headphones, sound bars and other audio products to its line-up. ....
Eric Abent - May 7, 2021, 9:11am CDT Back in February, Sennheiser announced that it was looking for a partner to take over its consumer products arm so it could shift its focus entirely to its Pro business. Today, the company announced that it has found a partner in the Stäfa, Switzerland-based Sonova Holding AG. Sonovoa has agreed to acquire Sennheiser’s consumer business and continue to develop, produce, and sell headphones and soundbars under the Sennheiser brand. This is a bit of a strange acquisition, because at first blush, you wouldn’t necessarily assume that Sennheiser would be a good fit for Sonova’s core business. Sonova is a company centered around hearing care, which means that it makes hearing aids and cochlear implants – not exactly the audio equipment Sennheiser is known for. ....