Beyerdynamic is being bought by Chinese manufacturer Cosonic. The century-old maker of headphones and microphones confirmed the news to German site heise online.
We've spoken to Beyerdynamic, who confirmed its headphones will continue to be made in Germany.
The company was founded in Berlin in 1924, with founding father Eugen Beyer specialising in cinema loudspeakers. It has since made microphones as used by Queen Elizabeth II and The Beatles, and it created the first dynamic headphones with electrostatic reproduction characteristics (the DT 880).
More recently, it has had a string of well-reviewed headphones, both wired and wireless, including the T1 and T5 (both third generations), Award-winning Amiron, Amiron Wireless, DT 700 Pro X, DT 900 Pro X and Aventho 300.
According to reports, the company is being bought for €122 million, though according to Beyerdynamic's CEO and managing director, Andreas Rapp, this could change. A large part of its sales price will be used to repay loans.
Cosonic is not a big name in audio circles. It has served as a contract manufacturer for various audio brands, and is believed to want to use the acquisition to boost its profile outside of China and expand through Beyerdynamic's international sales network.
According to Rapp, this deal will enable Beyerdynamic to invest in its future.
"The shareholders have recognised that future investments cannot be financed with the current structure," he told heise online.
"They have therefore decided to sell the company to an interested party who will not only continue Beyerdynamic's 100-year history, but also take it forward to continue to survive in the international markets."
Rapp promised that nothing would change for employees, with all contracts remaining valid. The firm will continue to operate as an independent company, he added.
The takeover is expected to be completed in three to five months.
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