© Sennheiser Electronics Production | May 11, 2021
Sennheiser Consumer Business has a new owner
Swiss-based medical hearing solutions provider, Sonova Holding AG, will fully take over Sennheiser's Consumer Electronics business.
While the transaction is still subject to regulatory approval, the plan is to complete the transfer of the business to Sonova by the end of 2021. Sennheiser announced back in February that it would focus on its Professional business in the future and was seeking a partner for the Consumer Electronics business. 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 says in a press release that it will leverage the complementary competencies of both companies to strengthen and further expand its business areas in the future. A permanent cooperation is planned under the joint Sennheiser brand umbrella in order to continue offering Sennheiser customers audio solutions in the future. A license agreement for future use of the Sennheiser brand has also been made. "We couldn't have asked for a better partner than Sonova for our Consumer Electronics business," says Daniel Sennheiser, co-CEO at Sennheiser in a press release. "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." 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. Currently, 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,” says Arnd Kaldowski, CEO of Sonova, in the press release. “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.” With the partnership for the Consumer business, Sennheiser says it will now concentrate its own strengths and resources on the Pro Audio, Business Communications and Neumann business areas.