Sennheiser sells its consumer audio business for €200 million
Sennheiser has announced that Sonova Holding AG has acquired its consumer audio division. Sonova, which is best known for producing medical-grade hearing aids, has agreed to pay Sennheiser €200 million for the business. According to Sennheiser, its consumer audio business turned over €756.7 million in 2019, for reference.
Sonova will develop and sell headphones, earbuds and speakers under the Sennheiser brand through a licensing agreement, so consumers may not notice much of a change. Similarly, most of Sennheiser's 600 employees will transfer to Sonova. Sennheiser has not wholly stepped away though, as it and Sonova will 'work together permanently to provide Sennheiser customers with first-class audio solutions and premium products in the future'.
Nonetheless, Sennheiser intends to focus exclusively on producing professional products under its Pro Audio, Business Communications and Neumann divisions. According to Daniel and Andreas Sennheiser, Sennheiser sold its consumer business because it entered the wireless earbud and headphone market too late to be competitive. The Momentum True Wireless 2 (affiliate link) is a great pair of wireless over-ear headphones though, as we have covered in our review.