Sonova Snaps Up Advanced Bionics For $489M

Law360, New York (November 9, 2009, 3:16 PM EST) -- Swiss hearing aid provider Sonova Holding AG announced Monday that it will purchase cochlear implant maker Advanced Bionics Corp. for $489 million, in an attempt to break into what it says is a high-growth market for Advanced Bionics' cutting-edge hearing technology.

Under the terms of the deal, Sonova will pay California-based Advanced Bionics $489 million in cash, plus a transaction cost of 10 million Swiss francs, for a total of approximately $501.3 million. Sonova said it hoped to secure regulatory approval for the acquisition within the...
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