Sennheiser and the Sonova Holding AG with headquarters in Stäfa, Switzerland, announced their future cooperation under the Sennheiser brand. The global provider of medical hearing solutions will fully take over Sennheiser’s 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 the best sound and a unique 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’s 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 audiological 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 Mr 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. 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.”
Commenting on the impact of the acquisition on the Indian market, Mr Kapil Gulati, Director – Consumer Segment, Sennheiser India, “India is among Sennheiser’s 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.”
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 works for the Sennheiser consumer business.
According to Mr Arnd Kaldowski, CEO of Sonova, “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. Combining our market-leading technology with the strong brand and well-established distribution network of Sennheiser creates a strong foundation for future growth.”