Sonova is the new owner of the Sennheiser headphone division. The world market leader for hearing aids from Switzerland primarily wants to increase the performance of the in-ear headphones that are popular with buyers.
Sennheiser headphones are to be manufactured under Swiss management in the future. Sonova, a leading Swiss provider of medical hearing systems, wants to take over the consumer division of Sennheiser electronic, as both companies announced on Friday. A corresponding agreement has been signed. Unless regulators object, the deal is expected to close in the second half of 2021. The purchase price is 200 million euros. Sennheiser is based in Wedemark near Hanover, Sonova in Stäfa 25 kilometers southeast of Zurich.
“We want to keep the team and the location because that’s where the expertise is,” said Sonova boss Arnd Kaldowski of the German press agency. “Nothing will change for the buyer, the devices will be sold under the same brand.” However, Sonova could control technology from the hearing aid sector. On the one hand, the battery charge of the small headphones worn in the ear, the earbuds, can be improved. On the other hand, the performance could be improved in such a way that wearers can understand other people better despite earbuds in their ears.
The Sennheiser Consumer Division manufactures headphones as well as audiology and telecommunications products. According to the announcement, the department recently achieved sales of around 250 million euros per year with 600 employees. Sennheiser announced in February that the company would concentrate on the professional area. The family company, founded in 1945, is active in more than 50 countries.
Hundreds of jobs lost
“We are convinced that Sonova will strengthen the Sennheiser Consumer Division in the long term and exploit the great growth opportunities,” said Sennheiser’s co-boss Daniel Sennheiser, according to the announcement. Last July, Sennheiser announced that it would cut 650 of its 2,800 jobs by 2022. The company named the mixed fiscal year 2019 and the effects of the corona pandemic as a background.