#Sonova

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. 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. Read more in our articles including "Sonova acquires Sennheiser consumer business" and "BIR opens Tax Payer Portal".