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Sennheiser sells consumer division to Swiss hearing aid maker
- Hearing aid maker Sonova has purchased Sennheiser’s consumer division.
- The purchase is a bid to diversify Sonova’s product offerings and gain access to a younger audience.
German company Sennheiser is a big player in the personal audio market, but it’s about to get a new owner. Swiss-based Sonova has acquired Sennheiser’s consumer division in a €200 million (~$241 million) cash deal.
According to Reuters, the planned purchase is a play by Sonova — the world’s largest hearing aid maker — to gain access to a younger market segment. Currently, Sonova’s hearing aids and cochlear implants primarily cater to older users with hearing problems.
Under the Sennheiser name, Sonova will initially add “headphones and soundbars to its hearing care portfolio,” Sennheiser noted in a press release. According to Reuters, the company may also develop “wearables devices with more advanced functions” in the future.
Sennheiser confirmed that the deal would not affect its traditional offerings of headphones and other audio equipment. The company will continue to offer these products in the future. But the deal, set to be completed in H2 2021 and subject to approval from regulators, will likely diversify the company’s offerings.