Advanced Bionics Acquired By Sonova

Valencia-based Advanced Bionics, a manufacturer of cochlear implants, said Monday that it has entered into a definitive merger agreement with Sonova Holdings AG. Financial details of the acquisition were not announced. According to Advanced Bionics, the deal helps Sonova Group strategically expand into the area of cochlear implants.Advanced Bionics was advised by UBS Investment Bank and O'Melveny & Myers in the deal.