The acquisition is now expected to be completed by the end of the 2021/22 financial year, which ends at the end of March 2022. Sonova had previously planned to close the deal by the end of the current calendar year.
As a reason for the delay, Sonova stated in a statement on Tuesday that certain operational tasks as part of the outsourcing of the business would require more time than originally assumed. Including, for example, the migration of IT systems.
Sonova and Sennheiser have made considerable progress in recent months and are still determined to successfully complete the transaction, according to the announcement. In addition, the takeover was approved by the regulatory authorities in all relevant countries.
Sonova announced the takeover of the Sennheiser division in May. According to the information published at the time, Sonova is paying 200 million euros for the business, which with around 600 employees generates annual sales of 250 million euros worldwide.