Sennheiser has been acquired by Sonova, a Swiss company known for its medical audio products. Specifically, the company purchased the German-based audio company’s consumer electronic division.
Specifically, what this acquisition means is that Sonova will, in effect, now be handling Sennheiser’s range of personal audio products, including headphones, TWS earbuds, as well as soundbars. As to how much Sonova paid for the division, the brand reportedly paid 200 million Euros (~RM1 billion).
Sonova’s purchase of Sennheiser’s consumer audio division comes after the latter announced that it was looking for another entity to buy its consumer business back in February. The company reportedly hit record sales back in 2019, but due to pressure from “global rivals”, the brand also had to slash hundreds of jobs. In order to better help the division.
Sonova says that despite the acquisition, the company will continue to sell all future consumer audio products under the Sennheiser brand. Also, the sale is still awaiting regulatory approval, but Sonova says that it is expecting the sale to be finalised sometime within the second half of this year.
(Source: Sonovo, The Verge)