Sennheiser announced its intention to sell its consumer division in February and we’ve learned that Sonova is the one to buy.
Sonova is a Swiss company specializing in audio but dedicated to the medical sector, such as cochlear implants or hearing aids. The company, with international projection, specializes in audio care. Thus, this company takes over the entire portfolio of consumer electronics products including headphones, wireless headphones, and soundbars.
Fortunately, this does not mean the end of the brand. Sonova has already announced that it will continue to sell the company’s products under the same name. Sonova has already shown its enthusiasm with the agreement, assuring that they could not have chosen “a better partner.”
Sennheiser sells its consumer division to Sonova
Sonova, in addition to everything already mentioned, also has wireless communication solutions and it is involved in the development of audio devices in the military field.
This sale occurs because Sennheiser wants to enter the professional audio sector. The firm has been looking for a buyer for months because profit margins were very low. After cutting up to 650 jobs, they set out to find an investor.
Sennheiser’s Co-CEOs, Andreas and Daniel Sennheiser said Sonova “not only shares our passion for audio and a commitment to the highest product quality, but also very similar corporate values. This is an excellent foundation for a successful future together.”
Arnd Kaldowski, CEO of Sonova said: “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.”
The purchase price of the division amounts to €200 million ($241 million), in addition to that, it is important to note that the division makes €250 million ($303 million) annually.