The search by Sennheiser electronic GmbH & Co. KG for a partner for the Sennheiser Consumer Electronics Division has now been successful within a very short time. The Swiss company Sonova Holding AG will take over the division.
In February 2021, the German company Sennheiser electronic GmbH & Co. KG announced that it wanted to restructure and focus solely on the Professional Business segment. In the course of this, the consumer electronics division was to be completely spun off and operated by a new partner.
Surprisingly, this search for a new partner led comparatively quickly to a result, which could now be announced.
The new partner of Sennheiser electronic GmbH & Co. KG comes from Switzerland, it is the Stäfa-based company Sonova Holding AG. The Swiss company is regarded as a globally active provider of medical hearing solutions and is to take over Sennheiser’s consumer business completely in the future.
The agreement provides for a licence agreement on the future use of the brand, so that the Sennheiser brand will continue to exist in the consumer segment, albeit under new management.
“We could not have wished for a better partner than Sonova for our consumer electronics business Sonova is a strong, well-positioned company. Not only do we share a passion for unique audio experiences, we also share very similar corporate values. This gives us an excellent basis for a successful future together.”Daniel Sennheiser, Co-CEO at Sennheiser
Complete transfer of operations of the consumer electronics business to Sonova Holding AG
With the partnership, a complete transfer of operations of the consumer electronics business to Sonova is planned, they announced in a statement. This will be coordinated with the Sennheiser works councils, and employees will also be transferred to Sonova in the course of the transfer. According to Sennheiser electronic GmbH & Co. KG, the internationally active and broadly positioned company with its headquarters in Switzerland offers very good prospects for the future. According to the company, a total of around 600 employees currently work for the Sennheiser consumer business.
“The combination of our strengths creates a very good starting position for future growth. We are convinced that Sonova will strengthen the Sennheiser Consumer Business in the long term and exploit the major growth opportunities.”Dr. Andreas Sennheiser, Co-CEO at Sennheiser
The audio specialist is convinced that the Sennheiser brand has stood for first-class sound and excellent products for over 75 years. Sonova will take over the development and production areas of Sennheiser Consumer Electronics, so that customers will continue to benefit in the future.
“I am very pleased that Sennheiser has chosen Sonova to shape the further expansion of its renowned Consumer Division. We would like to extend a warm welcome to our new colleagues and leverage the combined strengths of both companies to successfully shape our common future. The fast-growing market for personal audio devices is evolving rapidly. We will combine our audiological expertise with Sennheiser’s know-how in sound, the brand’s reputation and its high-quality products. In this way, we aim to expand our offering and reach people early on their journey to good hearing. The combination of our market-leading technology with Sennheiser’s strong brand and well-established distribution network provides a strong foundation for future growth.”Arnd Kaldowski, CEO of Sonova
Sennheiser electronic GmbH & Co. KG itself will focus forces and resources on the Pro Audio, Business Communications and Neumann business units, the company said in a statement. In these three business units, the company plans to continue to grow at an above-average rate under its own steam and to expand its already strong position on the world market. In addition, the company will successively expand its business areas.
Getting to the point
It was quite a surprise when Sennheiser electronic GmbH announced in February 2021 that it would be divesting itself of its entire consumer electronics division and looking for a partner. Surprisingly quickly, such a partner was found in the Swiss company Sonova Holding AG. Sonova Holding AG will not only take over the entire division, including employees, but a licensing agreement also ensures that the Sennheiser brand can continue to be used in the consumer segment.