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Sonova Holding AG
M&A Activity • Oct 19, 2021
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M&A Activity
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Ad-hoc | 19 October 2021 07:01
Update on expected closing of Sennheiser Consumer Division acquisition
Sonova Holding AG / Key word(s): Statement
19-Oct-2021 / 07:01 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to Art. 53 LR
Stäfa (Switzerland), October 19, 2021 – Sonova Holding AG, a leading provider of hearing solutions, today announced that it expects to close the planned acquisition of the Consumer Division from Sennheiser electronic GmbH & Co. KG (Sennheiser) before the end of financial year 2021/22. The closing had previously been expected before the end of calendar year 2021. The postponement is related to final operative tasks within the carve-out project – for example the migration of IT systems – which need more time than originally expected. Sonova and Sennheiser have made significant progress towards a successful closing in recent months and remain fully committed to successfully conclude the transaction. The regulatory approvals in all relevant jurisdictions have been received. The planned acquisition of the Sennheiser Consumer Division has not been included in the guidance for financial year 2021/22.
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Contacts:
Investor Relations
Thomas Bernhardsgrütter
Phone +41 58 928 33 44
Mobile +41 79 618 28 07
Email [email protected]
Media Relations
Patrick Lehn
Phone +41 58 928 33 23
Mobile +41 79 410 82 84
Email [email protected]
Disclaimer
This Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside Sonova’s control. Should one or more of these risks or un-certainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sonova undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.
About Sonova
Sonova, headquartered in Stäfa, Switzerland, is a leading provider of innovative hearing care solutions. The Group operates through its core business brands Phonak, Unitron, Hansaton, Advanced Bionics and the brands of the Audiological Care business, e.g. AudioNova, Geers, Boots Hearing Care, Connect Hearing and Lapperre. Sonova offers its customers one of the most comprehensive product portfolios in the industry – from hearing instruments to cochlear implants to wireless communication solutions.
Pursuing a unique vertically integrated business strategy, the Group operates through three core businesses – Hearing Instruments, Audiological Care and Cochlear Implants – along the entire value chain of the hearing care market. The Group’s sales and distribution network, the widest in the industry, comprises over 50 own wholesale companies and more than 100 independent distributors. This is complemented by Sonova’s Audiological Care business, which offers professional audiological services through a network of around 3,200 locations in 20 key markets.
Founded in 1947, the Group has a workforce of over 14,000 dedicated employees and generated sales of CHF 2.6 billion in the financial year 2020/21 as well as a net profit of CHF 585 million. Across all businesses, and by supporting the Hear the World Foundation, Sonova pursues its vision of a world where everyone enjoys the delight of hearing and therefore lives a life without limitations.
For more information please visit www.sonova.com and www.hear-the-world.com .
Sonova shares (ticker symbol: SOON, Security no: 1254978, ISIN: CH0012549785) have been listed on the SIX Swiss Exchange since 1994. The securities of Sonova have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the ‘U.S. Securities Act’), or under the applicable securities laws of any state of the United States of America, and may not be offered or sold in the United States of America except pursuant to an exemption from the registration requirements under the U.S. Securities Act and in compliance with applicable state securities laws, or outside the United States of America to non-U.S. Persons in reliance on Regulation S under the U.S. Securities Act.
End of ad hoc announcement
| Language: | English |
| Company: | Sonova Holding AG |
| Laubisrütistrasse 28 | |
| 8712 Stäfa | |
| Switzerland | |
| Phone: | +41 58 928 33 33 |
| E-mail: | [email protected] |
| Internet: | www.sonova.com |
| ISIN: | CH0012549785 |
| Valor: | 12549785 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1241671 |
| End of Announcement | EQS Group News Service |