European Commission Approves Widex and Sivantos Merger
The European Commission has approved the merger between Widex and Sivantos under the EU Merger Regulation. The combined entity is set to become a global leader with revenues exceeding EUR 1.7 billion.
Brussels and Singapore – February 14, 2019 – The European Commission has granted approval for the merger between Sivantos Pte. Ltd., owned by EQT funds, and Widex A/S, owned by T&W Medical A/S. Sivantos is known for its advanced hearing aid products under brands like Signia and Audio Service, while Widex focuses on high-end hearing technology.
The Commission concluded that the merger would not raise competition concerns. This approval clears the way for the formation of a significant player in the hearing aid market. The combined company is projected to have an annual revenue of over EUR 1.7 billion and operate in more than 125 markets worldwide, employing over 10,000 individuals.
The merger aims to leverage combined research and development resources to drive innovation and expand the reach of hearing solutions globally. Following the transaction, both Widex and Sivantos brands will continue to operate with separate sales forces and organizations.
The transaction is expected to close in early March 2019, subject to customary closing conditions. EQT had previously announced the combination of the two hearing aid manufacturers in July 2018.