The largest hearing aid company in the world – Swiss Sonova – has flexed its financial muscle, and in an EUR 200m (USD 243.3m) trade it has acquired audiocompany Sennheiser's division for consumer products, according to a Sonova press statement.
The acquisition adds 600 employees to Sonova's workforce and EUR 250m in revenue, and on the conference call made after the announcement, the firm explains that it plans to elevate its margin for earnings before interest, taxes and amortization (EBITA) to a double-digit figure.
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