Media Release Sonova to acquire Comfort Audio 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
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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Sonova Investor Relations Sonova Media Relations
Thomas Bernhardsgrütter Michael Isaac
Phone +41 58 928 33 44 Phone +41 58 928 33 24
Mobile +41 79 618 28 07 Mobile +41 79 420 29 56
Email email@example.com Email firstname.lastname@example.org
Comfort Audio CEO
Phone +46 35 260 16 29
Mobile +46 73 687 86 55
This Media Release contains forward-looking statements, which offer no
guarantee with regard to future performance. These statements are made on the
basis of management's views and assumptions regarding future events and
business performance at the time the statements are made. They are subject to
risks and uncertainties including, but not confined to, future global economic
conditions, exchange rates, legal provisions, market conditions, activities by
competitors and other factors outside Sonova's control. Should one or more of
these risks or uncertainties materialize or should underlying assumptions
prove incorrect, actual outcomes may vary materially from those forecasted or
expected. Each forward-looking statement speaks only as of the date of the
particular statement, and Sonova undertakes no obligation to publicly update
or revise any forward-looking statements, except as required by law.
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.
Sonova shares (ticker symbol:SOON, Security no: 1254978, ISIN: CH1012549785)
have been listed on the SIX Swiss Exchange since 1994. The securities of
Sonova have not been and will not be registered under the U.S. Securities Act
of 1933, as amended (the "U.S. Securities Act"), or under the applicable
securities laws of any state of the United States of America, and may not be
offered or sold in the United States of America except pursuant to an
exemption from the registration requirements under the U.S. Securities Act and
in compliance with applicable state securities laws, or outside the United
States of America to non-U.S. Persons in reliance on Regulation S under the
U.S. Securities Act.
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.
Media Release (PDF)
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