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Sennheiser sells its consumer business

Sennheiser sells its consumer business

Sennheiser has decided to sell its consumer products division, which includes its popular and award-winning headphones and gaming products, for €200 million. Among the iconic products included in the deal are the Momentum line of headphones, Momentum True Wireless headphones, and Sennheiser Ambeo sound bars.

The surprise comes from the buyer, a Swiss holding company whose core business is hearing aids for the deaf and hard of hearing. Sennheiser’s intention to sell its consumer business was made official last February. A few days ago, Sennheiser announced the identity of the buyer, Sonova Holding AG. The discreet company is no small business, however, with more than 15,000 employees and sales of around 2.66 billion Euros.

Sennheiser will continue to produce professional audio equipment, wireless microphones, DJ and monitoring headsets, and studio microphones.

The rest of the range for the general public will be produced by Sonova, which will benefit from the use of the Sennheiser name, under the supervision of the German company. The details of this agreement, which in some ways resembles a brand concession, are unknown at this time.

Sennheiser gaming

A sale dictated by financial results

The German manufacturer is in the hard with a negative balance sheet on this division since 2019 and a competition that has strengthened and pulled the prices down.

Sennheiser employs about 600 people in its consumer division. As part of the agreement signed, a complete transfer of resources was decided, which implies that all employees of this division will be employees of Sonova in the future.

Daniel Sennheiser, co-CEO of Sennheiser: We couldn’t have asked for a better partner than Sonova for our consumer electronics business ( …) Sonova is a strong and well-positioned company. Not only do we share a passion for unique audio experiences, but we also share very similar corporate values. This gives us an excellent foundation for a prosperous future together.”

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Edited by Calliers

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