London, May 8 (SocialNews.XYZ) Long-running German audio company Sennheiser has announced that Swiss holding company Sonova will be acquiring the brand in a deal expected to close by end of the year.
The deal will bring headphones and soundbars to Sonova's existing portfolio, which is largely centered around healthcare products, TechCrunch reported.
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, it publicly announced that it was seeking a buyer for the division.
"To be best able to exploit the potential in each of these markets, we are concentrating our own resources on the three business areas in the Professional division and are looking for a strong partner to invest in our Consumer business," Co-CEO Daniel Sennheiser noted at the time.
Sennheiser describes the deal as a "permanent cooperation" between the two, including licensing the company's name.
The existing consumer wing, including many of its employees, will transfer to Sonova.
A press statement announcing the news says there are currently 600 people employed by the brand, but no word on how many are expected the make that move.
Source: IANS
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