16/06/2014 | 07:30 CEST | Group Announcements
Stäfa (Switzerland), 16 June 2014 – Sonova Holding AG and Comfort Audio i Halmstad AB (Sweden) announce today that Sonova acquires 100% of the shares of Comfort Audio. Comfort Audio is specialized in the development, manufacturing and distribution of innovative assistive listening devices. The hearing solutions of Comfort Audio cater especially to assist people with hearing loss in challenging listening situations, for example in larger work group sessions or in schools, and complement Sonova’s broad wireless and non-wireless product and solution offering. The closing of the transaction is subject to regulatory approvals. The parties agreed to keep the terms of the transaction confidential.
Comfort Audio employs around 90 staff, mainly in Sweden, and has a strong distribution network in Scandinavia as well as a presence in several other European markets and the US. In calendar year 2013 sales were SEK 143 million (CHF 19 million). Its sleekly designed product and solution portfolio is geared towards maximum listening comfort. Sonova plans to maintain the Halmstad base of Comfort Audio and to broaden Sonova’s offering of hearing solutions and market reach substantially.
Lukas Braunschweiler, CEO of Sonova said “Comfort Audio is a very attractive addition to our advanced portfolio of hearing solutions. Both the strong solutions and technology offering and the management talent of Comfort Audio will create significant value for Sonova.” Mats Dörring, CEO of Comfort Audio welcomes the new ownership by saying “Sonova is truly the best owner of Comfort Audio. Our business will greatly benefit from Sonova’s global distribution network and its industry leading innovation capacity.”
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