Sonova, a Swiss corporation ideal known for its professional medical audio goods like listening to aids and cochlear implants, is buying the shopper electronics division of German firm Sennheiser. That usually means Sonova is taking above Sennheiser’s portfolio of shopper headphones, wireless earbuds, and soundbars, relocating into an increasing industry for particular audio products.
Sennheiser declared it was searching for a consumer for its shopper company in mid-February “amid potent competitive tension.” Whilst the company’s shopper goods hit history sales in 2019, the company nonetheless misplaced cash with gain margins “under pressure” from global rivals. It reduce 650 jobs and explained “all possibilities are open” to assist the division.
Now the organization has discovered a purchaser in Sonova. In a joint assertion by Sennheiser’s co-CEOs, brothers Andreas and Daniel Sennheiser, the pair said they “couldn’t have requested for [a] better” associate. “A partner who not only shares our passion for audio and a motivation to the maximum product top quality, but also pretty similar corporate values,” they generate. “This is an outstanding foundation for a prosperous future together.”
In an announcement of the offer from Sonova, the organization explained it will proceed to promote goods less than the Sennheiser model. “Combining our audiological abilities with Sennheiser’s know-how in audio delivery, their great track record as properly as their superior-excellent products will let us to increase our supplying and to create crucial touchpoints with shoppers before in their hearing journey,” stated Sonova CEO Arnd Kaldowski.
Sonova explained the invest in price tag of the division quantities to €200 million ($241 million), and that Sennheiser’s business enterprise generates revenues of €250 million per year. The offer is nonetheless subject matter to regulatory acceptance, but Sonova suggests it expects to close it in “the 2nd half of calendar calendar year 2021.”