The Sennheiser Brand Will Live On Through Sonova
After the acquisition, Sonova will continue making consumer audio equipment under the Sennheiser brand name.
In a press release on the Sennheiser Newsroom, it is mentioned that a “permanent cooperation is planned under the joint Sennheiser brand umbrella.” A license agreement for the future use of the Sennheiser brand has also been made.
Sennheiser believes that its rich history and experience in audio equipment will perfectly complement Sonova’s technological and research expertise. Both companies see “great potential” in the partnership, especially when it comes to “the market for speech-enhanced hearables and for true wireless and audiophile headphones.”
Daniel Sennheiser, co-CEO at Sennheiser stated:
When it comes to employees, the Sennheiser Consumer Electronics employs 600 people, some of whom, will transfer to Sonova once the acquisition is complete. Sennheiser believes that for the employees, this move “opens up very good opportunities for the future.” This is mainly due to Sonova’s international reputation in the hearing aid market.
The complete acquisition will take place for $241 million.
What Will Sennheiser Focus on Now?
With Sonova taking over the Consumer Electronics business, Sennheiser will “now concentrate its own strengths and resources on the Pro Audio, Business Communications and Neumann business areas.”
Neumann was acquired by Sennheiser way back in 1991 and the company’s primary focus is professional microphones.
Sennheiser plans to expand the other areas of its business and “grow at an above-average rate.”
Andreas and Daniel Sennheiser, co-CEOs at Sennheiser also gave a joint statement about the acquisition by Sonova.
The statement further elaborated on Sennheiser’s focus areas:
Both of them are sure that Sennheiser’s partnership with Sonova will be a fruitful one.
