Sonova Holding AG (SWX:SOON) signed an agreement to acquire Consumer Electronics Business of Sennheiser electronic GmbH & Co. KG for €200 million on May 7, 2021. The consideration will be financed through existing cash balance. The deal is expected to be EPS accretive immediately and closing is foreseen in the second half of 2021 after obtaining the relevant regulatory approvals. For the year ending December 31, 2020, Consumer Electronics Busines had revenues of €250 million. As of October 19, 2021 the deal has been postponed to next year and is expected to close in first quarter of 2022. Goldman Sachs International acted as financial advisor, Jan Hartmann, Patrick Halfpap, Sascha Dethof, Marcus Kamp, Stefanie Greifeneder, Andre Happel, Stephan Zimprich, Thorsten Ihler, Sara Bandehzadeh, Victor Alexander Martins Kuenzel, Matthias Berger, Leif Herzog, Anita Malec and Bahne Sievers of Fieldfisher acted as legal advisors and KPMG acted as accountant to Sonova Holding AG. GCA Altium AG acted as financial advisor to Sennheiser electronic GmbH & Co. KG in the transaction. Bernd Wirbel, Thomas Meurer, Wolfgang Kellenter, Alf-Henrik Bischke, Matthias Scheifele, Christian Hoefs, Andrea Schlaffge and Gunther Wagner of Hengeler Mueller Partnerschaft von Rechtsanwälten mbB acted as legal advisors to Sennheiser electronic GmbH & Co. KG. Houlihan Lokey, Inc. acted as financial advisor to Sennheiser electronic GmbH & Co. KG

Sonova Holding AG (SWX:SOON) completed the acquisition of Consumer Electronics Business of Sennheiser electronic GmbH & Co. KG on March 1, 2022.