Sonova Acquires Sennheiser Consumer Business
Sennheiser and the Sonova Holding AG with headquarters in Stäfa, Switzerland, have announced their future cooperation under the Sennheiser brand. The global provider of medical hearing solutions will fully take over Sennheiser 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 had announced in February that it would focus on the Professional business in the future while seeking a partner for the Consumer Electronics business.
Consumer Electronics products from Sennheiser stand for their sound and audio experience. With the takeover of the Sennheiser Consumer business, Sonova is adding headphones and soundbars to its hearing care portfolio, which includes hearing aids and cochlear implants, among other hearing solutions. Sonova will leverage the complementary competencies of both companies to strengthen and further expand its business areas in the future. Sennheiser many years of expertise as one of the world's leading companies in the audio industry and the resulting reputation and appeal of the brand are an excellent complement to Sonova's extensive technological and audio-logical expertise in the field of medical hearing solutions. 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. A license agreement for future use of the Sennheiser brand has been made.
According to Daniel Sennheiser, co-CEO at Sennheiser, "We couldn't have asked for a better partner than Sonova for our Consumer Electronics business."
According to Dr. Andreas 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. 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."
Commenting on the impact of the acquisition on the Indian market, Kapil Gulati, Director - Consumer Segment, Sennheiser India, “India is among Sennheiser top 10 markets globally and the second-largest market in the Asia Pacific (APAC) region after China. India has a great advantage with the growing appetite for the premium and connected sound ecosystem which has been further accelerated by the pandemic. We understand the evolving consumer preferences and we will be offering first-class audio solutions under the Sennheiser brand in future.”
Both partners see potential in particular in the market for speech-enhanced hearables and for true wireless and audiophile headphones. 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.
According to Arnd Kaldowski, CEO of Sonova, “I am very pleased that Sennheiser has chosen Sonova to further develop the well-renowned Consumer Division. We look forward to welcoming our new