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.”
About Sonova
Sonova Holding AG, headquartered in Staefa, Switzerland, is the leading manufacturer of innovative hearing care solutions. The Group operates through its core business brands Phonak, Unitron, Advanced Bionics and Connect Hearing. Sonova offers its customers one of the most comprehensive product portfolios in the industry – from hearing instruments to cochlear implants to wireless communication solutions. Founded in 1947, the Group is currently present in over 90 countries across the globe and has a workforce of over 9,000 dedicated employees. Sonova generated sales of CHF 2.0 billion in the financial year 2013/14 and a net profit of CHF 347 million. 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.
About Comfort Audio
Comfort Audio i Halmstad AB, headquartered in Halmstad, Sweden, develops, manufactures and distributes assistive listening devices for people with hearing loss. The products are characterized by innovation and flexibility and have been developed to be used at work, in school, in public environments and at home, always with a distinct focus on the needs of the individual and to improve the quality of life for people suffering from hearing impairment. Founded in 1994, Comfort Audio has local presence in five European countries, including Sweden, and in the U.S., and a versatile organization with around 90 employees. In the calendar year 2013, Comfort Audio generated revenues of approximately SEK 143 million.
For more information please visit www.comfortaudio.com.
