Sennheiser sells audio business to hearing aid maker
Sennheiser’s deal with Sonova Holding, with headquarters in Stäfa, Switzerland, is expected to complete by the end of the year.
Sennheiser announced it was looking to spin off the audio business back in February to focus on professional audo electronics. The deal adds headphones and soundbars and 600 staff to Sonova’s hearing care portfolio, which includes hearing aids and cochlear implants.
“We couldn’t have asked for a better partner than Sonova for our Consumer Electronics business,” says 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.” Co-CEO Dr. Andreas Sennheiser adds: “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.” Both partners see great potential in particular in the market for speech-enhanced hearables and for true wireless and audiophile headphones.
“I am very pleased that Sennheiser has chosen Sonova to further develop the well-renowned Consumer Division. We look forward to welcoming our new colleagues and to building on the combined strengths of both organizations to successfully shape our joint future,” said Arnd Kaldowski, CEO of Sonova. “The fast-growing market for personal audio devices is rapidly evolving. 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. Combining our market-leading technology with the strong brand and well-established distribution network of Sennheiser creates a strong foundation for future growth.”
Along with the 600 staff, Sonova will take over the development and production areas of Sennheiser Consumer Electronics but the two companies will cooperate on products under a joint Sennheiser brand under a license agreement.
www.sennheiser.com; www.sonova.com
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