Media - Sonova News Room
Sonova buys AudioNova in $953 mln challenge to Demant
(Reuters) - Swiss hearing aid maker Sonova is buying Dutch-based AudioNova for 830 million euros ($953 million), its largest acquisition, to expand a network of European stores where it will jettison rivals' products in favour of its own.
The cash deal to buy AudioNova from Curacao-based investment company HAL Holding N.V. will add 1,300 stores in eight countries. That more than doubles Sonova's presence in Europe and boosts its worldwide store total to more than 3,300.