Long-time German audio company Sennheiser announced today that it has found a buyer for its consumer brand. The Swiss holding company Sonova – a giant in the hearing aid business – will acquire the brand under a contract that is expected to be concluded by the end of the year.
The deal will add headphones and soundbars to Sonova’s existing portfolio, which is primarily focused on healthcare products. However, among other things, the deal could have interesting implications for what is known as the hearing aid category, which can cross the line between headphones and health products. Meanwhile, Sennheiser will concentrate entirely on its pro products.
The company was pretty open about its intentions. In February, she publicly announced that she was looking for a buyer for the division. “In order to be able to optimally utilize the potential in each of these markets, we are concentrating our own resources on the three business areas in the Professional division and are looking for a strong partner to invest in our consumer business,” said Co-CEO Daniel Sennheiser at the time.
Sennheiser describes the deal as a “permanent collaboration” between the two, including the licensing of the company name. The existing consumer division, which also includes many of his employees, will switch to Sonovo. A press release announcing the news said the brand currently employs 600 people, but no word on how many are expected to take this step.
“The combination of our strengths offers a very good starting point for future growth,” said the company’s other co-CEO in the press release. “We are convinced that Sonova will strengthen the Sennheiser consumer business in the long term and take advantage of the great growth opportunities.”
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