Sennheiser and Sonova Holding AG, a global provider of medical hearing solutions, have announced that Sonova has purchased Sennheiser’s consumer electronics business, allowing the latter to concentrate on pro audio. 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 its professional business, while seeking a partner for CE.
Sonova, headquartered in Stäfa, Switzerland, adds headphones and soundbars to its hearing care portfolio, which includes hearing aids and cochlear implants, among other hearing solutions. The company intends to leverage the complementary competencies of both companies to strengthen and further expand its business areas in the future”. A permanent cooperation is planned under the joint Sennheiser brand umbrella in order to continue offering Sennheiser customers first-class audio solutions in the future, and a license agreement for future use of the Sennheiser brand has been made.
“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.”
Co-CEO Dr. Andreas Sennheiser added: “The combination of our strengths provides a 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.”
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. For the employees who will transfer to Sonova, the move to the internationally operating and well-positioned company, headquartered in Switzerland, opens up very good opportunities for the future. Currently, a total of around 600 Sennheiser employees work for the Sennheiser consumer business.
“I am very pleased that Sennheiser has chosen Sonova to further develop the well-renowned consumer division,” said Arnd Kaldowski, CEO of Sonova. “We look forward to welcoming our new colleagues and to building on the combined strengths of both organisations to successfully shape our joint future. 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.”
With the partnership for the consumer business, Sennheiser will now concentrate its own strengths and resources on the pro audio, business communications and Neumann business areas.