Completion of Sennheiser Consumer Division acquisition moves Sonova firmly into headsets, headphones, and hearables.
acquisitions
Swiss hearing group Sonova's previously announced acquisition of the Consumer Division from Sennheiser electronic GmbH & Co. KG is complete. This brings the makers of Phonak hearing aids a fourth business unit, boosting product range and expanding its channel presence and customer base.
The deal with Sennheiser was announced in May 2021. The new consmer hearing business will be led by current Sonova Group Vice President Hearing Instruments Marketing, Martin Grieder.
Three growth areas will provide opportunites, says the group: "the fast-growing market for true wireless headsets, the emerging segment of speech-enhanced hearables, and an expansion of Sennheiser’s strong position in audiophile headphones". But seasonality of the acquired business and current supply shortages of microelectric components means Sonova does not expect a material contribution to its consolidated sales until the final month of the 2021/22 financial year,
Arnd Kaldowski, CEO of Sonova, says: “A warm welcome to the new colleagues who have joined us from Sennheiser. Linking the complementary strengths of Sonova and Sennheiser, we will now reach even more consumers at different stages of their hearing journey, creating a new path for sustainable growth for our company. We are convinced that our expanded offering of personal audio devices with speech enhancement will be a key contributor to increase the adoption of hearing solutions.”
Source: Sonova
