A few months back, the Sennheiser management released a statement whereby they mentioned Sennheiser was looking for a partner for their Consumer Division. A statement that was sadly taken totally out of context by certain media outlets.
We have confirmation finally. Sonova Holding AG, a leading provider of hearing solutions, has signed an agreement to acquire the Consumer Division from Sennheiser. The Sennheiser Consumer Division, which concentrates on the business of headphones and hearables for private customers, is an excellent fit with Sonova’s strategy to lead innovation in hearing experience and to engage consumers early on their hearing journey. The strength of the brand and the well-established complementary distribution network of the Sennheiser Consumer Division represent strong assets to further the strategy of Sonova.
The deal will allow Sonova to further expand its attractive portfolio of products; to capture growth opportunities, in particular in the fast-growing market for true wireless headsets and the emerging segment of speech enhanced hearables; and to further expand its channel presence and customer base.
“We couldn’t have asked for a better partner than Sonova for our Consumer Division,” says Daniel Sennheiser, co-CEO at Sennheiser. “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.” Co-CEO Dr. Andreas Sennheiser adds: “The combination of our strengths provides a very good starting point for future growth. We are convinced that Sonova will strengthen the Sennheiser Consumer Division in the long term and capture the major growth opportunities.”
The transaction is subject to regulatory approval and expected to close in the second half of calendar year 2021.