Sennheiser acquired by Sonova Holding AG in May 2021 deal
In May 2021, Sennheiser Electronic GmbH & Co. KG (Sennheiser) was acquired by Sonova Holding AG (Sonova). Sonova is one of the largest providers of hearing products. The terms of the deal state that Sonova has secured a perpetual license for the Sennheiser brand. As a result, the two companies will operate under the Sennheiser brand umbrella. Sennheiser will continue to leverage its true wireless headphone technology and is anticipated to provide products for hearing aids which Sonova notes as a rapidly growing segment.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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