Update on expected closing of Sennheiser Consumer Division acquisition

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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