New Delhi, May 7 (SocialNews.XYZ) Swiss hearing care solutions provider Sonova has acquired the consumer electronics business of German audio brand Sennheiser for an undisclosed sum, the companies announced on Friday.
Subject to regulatory approval, the plan is to complete the transfer of the business to Sonova by the end of 2021.
Sennheiser had announced in February that it would focus on the professional business in the future while seeking a partner for its consumer electronics business.
"We couldn't have asked for a better partner than Sonova for our Consumer Electronics business," said Daniel Sennheiser, co-CEO at Sennheiser.
Dr Andreas Sennheiser, another co-CEO at Sennheiser added: "The combination of our strengths provides a very good starting point for future growth. We are convinced that Sonova will strengthen the Sennheiser Consumer Business in the long term and capture the major growth opportunities."
India is among Sennheiser's top 10 markets globally and the second-largest market in the Asia Pacific (APAC) region after China.
"India has a great advantage with the growing appetite for the premium and connected sound ecosystem which has been further accelerated by the pandemic. We understand the evolving consumer preferences and we will be offering first-class audio solutions under the Sennheiser brand in future," said Kapil Gulati, Director - Consumer Segment, Sennheiser India.
With the takeover of the Sennheiser's consumer business, Sonova is adding headphones and soundbars to its hearing care portfolio, which includes hearing aids and cochlear implants, among other hearing solutions.
"Combining our audiological expertise with Sennheiser's know-how in sound delivery, their great reputation as well as their high-quality products will allow us to expand our offering and to create important touchpoints with consumers earlier in their hearing journey," said Arnd Kaldowski, CEO of Sonova.
Sennheiser will now concentrate its own strengths and resources on the Pro Audio, Business Communications and Neumann business areas.
Source: IANS
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