Long-running German audio company Sennheiser today announced that it has found a buyer for its consumer brand. Swiss holding company Sonova — a giant in the hearing aid business — will be acquiring the brand in a deal expected to close by end of year.
The deal will bring headphones and sound bars to Sonova’s existing portfolio, which is largely centered around healthcare products. Among other things, however, the deal could have interesting implications for the so-called hearables category, which can walk the line between headphones and healthcare products. Sennheiser, meanwhile, will shift the entirety of its focus to its pro products.
The company has been fairly open about its intentions. In February, < a href="https://en-us.sennheiser.com/newsroom/sennheiser-to-reposition-its-business-units-independently-of-each-other-s5jh2n"> it publicly announced that it was seeking some sort of buyer for the division. “To be best able to blow the potential in each of these marketplace, we are concentrating our own income on the three business states in the Professional division yet are looking for a strong partner to get our Consumer business, ” Co-CEO Daniel Sennheiser kept in mind at the time.
Sennheiser describes the offer as a “permanent cooperation” involving the two, including licensing a company’s name. The existing develop wing, including many of it’s actually employees, will transfer to be able to Sonovo. A press release promoting the news says there are nowadays 600 people employed by the corporation, but no word on how some are expected the make which move.
“The combination of our strengths gives very good starting point for success growth, ” the company’s other co-CEO says in release. “We are convinced that Sonova will strengthen the Sennheiser Consumer Business in the long term and therefore capture the major growth odds. ”