Sennheiser has sold its consumer audio division to hearing aid manufacturer Sonova
Back in February, we wrote that Sennheiser was looking for someone to buy the consumer audio business (headphones, soundbars and other non-professional equipment) from it – or to invest in it.
The story ended in an interesting way: this division of Sennheiser was acquired by the Swiss company Sonova, which specializes in the manufacture of hearing aids. Moreover, as part of the cooperation, both companies will continue to operate under the Sennheiser brand.
Sonova is renowned for a variety of devices that target hearing problems: cochlear implants, more traditional hearing aids, and more. According to company representatives, Sennheiser’s vast experience in creating audio devices with a unique sonic signature and a special approach to sound quality, combined with Sonova’s “technological and audiological expertise” will allow the brand to continue to develop, offering increasingly sophisticated technology.
Under the agreement of the companies, the entire consumer electronics business will move to Switzerland to the Sonova office – including some employees. According to Arnd Kaldowski, head of Sonova, such a partnership will allow companies to gain a foothold in the growing personal audio market and “create important touchpoints” with customers. Sennheiser’s renowned name and global distribution network will help you as much as the technology and expertise that both companies can provide.
If Sonova plans to develop its consumer electronics division, Sennheiser itself is going to focus on professional technology, business communications and the Neumann subbrand.
The deal is scheduled to be completed within 2021. The cost was 200 million euros. By comparison, Sennheiser’s Consumer Audio division has an estimated annual profit of 250 million euros.