DANISH PRODUCER OF HEARING AID DEVICES SOLD FOR TWO BILLIONS
Jan. 15, 2008 | Topic: CompaniesThe American supplier of electronic equipment Technitrol Inc. has bought the Danish producer of hearing aid Sonion A/S at a price of approximately 1,95 billion Danish crowns. According to the Danish CEO the acquisition will only give the Danish company more strength.
The American supplier of electronic equipment Technitrol Inc. has bought the Danish producer of hearing aid Sonion A/S at a price of approximately 1,95 billion Danish crowns. According to the Danish CEO the acquisition will only give the Danish company more strength.
According to Mr Peter Scheel, the CEO of Sonion, the American company has been interested because they wanted to expand their business within the area of mobile telephony where Sonion has great capabilities, writes Berlingske Business.
Concurrently, the American company also wants to supplement their existing business areas with Sonions expertise within the hearing aid products.
Though, the CEO emphasises that the acquisition should be seen as a move, which will strengthen the company in the future and give it easier access to funding, capabilities and resources without necessarily the risk of lay off employees.
“The structure of the organisation will face some small changes, but nothing that matters much all in all. Technitrol is known to buy companies in order to build them up, not to dismantle them and among other things they have shown great interest in our production in Vietnam” says Mr Scheel. He believes that the acquisition is likely to bring in more orders to the company’s Vietnamese department.
Since 2000 Sonion has been owned by Nordic Capital with 47 percent, Polaris with 31 percent, Intermediate Capital Group PLC with 17 percent and finally the smallest investor Erhvervsinvest Nord with 3 percent.