May 12, 2021 I Acquisition
Sennheiser Sells Off Consumer Brand to Focus on Pro Market
Audio company Sennheiser has announced it’s selling its consumer business to focus entirely on the professional market, tech blog TechRadar.pro reports.
The purchasing company is Sonova, a Swiss-based business specializing in hearing care solutions. Around 600 employees in Sennheiser’s Consumer Electronics division will move over to Sonova.
In a press release announcing the news, Sennheiser said its consumer products will be added to Sonova’s portfolio.
The financial details of the deal were not disclosed, although Sennheiser did describe it as a “permanent cooperation” between the companies, which includes licensing the existing brand name.