Demant has decided to evaluate the strategic options for the Communications business, which develops premium audio and video solutions for businesses under the EPOS brand, with a view to finding a new owner.

”The purpose of the evaluation is to investigate whether another owner would be better able to accelerate growth and enable the business to realize its full potential,” Demant wrote in a statement on Monday.

The Communications business has its roots in Sennheiser Communications, the former joint venture between Demant and Sennheiser, which was established in 2003.

The strategic options assessment is expected to be completed by the end of the first half of 2024, Demant writes.

For accounting purposes, Communications will be recognized as part of continuing operations in the group’s annual report for 2023, but for 2024 and going forward, the segment will be recognized as part of discontinued operations.

”The last couple of years have been challenging for the Communications business as the markets we address have not developed as we expected,” says Søren Nielsen, president and CEO of Demant.