Sennheiser has revealed that Sonova – a global provider of medical hearing solutions headquartered in Switzerland – will fully acquire its consumer business.
Sennheiser and Sonova Holding AG with headquarters in Stäfa, Switzerland, announced their future cooperation under the Sennheiser brand. Thus, Sonova will fully take over Sennheiser’s consumer electronics business.
As per Sennheiser, the plan is to complete the business transfer to Sonova by the end of 2021, subject to regulatory approval. In February, the brand had announced that it would focus on the Professional business in the future while looking for a partner for the Consumer Electronics business.
Moreover, with the takeover of the Sennheiser Consumer business, Sonova has been revealed to be adding headphones and soundbars to its hearing care portfolio, which includes hearing aids and cochlear implants, among other hearing solutions.
In addition, Sennheiser mentioned that Sonova would leverage the complementary competencies of both companies to strengthen and further expand its business areas in the future. The brand also noted that its years of expertise in the audio industry, resulting reputation, and appeal of the brand would complement Sonova’s extensive technological and audiological expertise in the field of medical hearing solutions.
“We couldn’t have asked for a better partner than Sonova for our Consumer Electronics business,” said Daniel Sennheiser, Co-CEO at Sennheiser.
Permanent cooperation is planned under the joint Sennheiser brand-umbrella to continue offering Sennheiser customers first-class audio solutions in the future. A license agreement for future use of the Sennheiser brand has been made.
“We are convinced that Sonova will strengthen the Sennheiser Consumer Business in the long term and capture the major growth opportunities, ” said Dr. Andreas Sennheiser, Co-CEO at Sennheiser.
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 for councils. According to Sennheiser, for the employees who will transfer to Sonova, the move to the internationally operating and well-positioned company in Switzerland opens up good opportunities for the future. As of now, a total of around 600 Sennheiser employees works for the Sennheiser consumer business.
“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. 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,” said Arnd Kaldowski, CEO of Sonova.
With the partnership for the Consumer business, Sennheiser will now focus on the Pro Audio, Business Communications, and Neumann business areas. In these three business units, the company aims to continue growing at an above-average rate under its own power and expanding its position in the global market. Plus, the company also mentioned that it would successively expand its business units.