BERLIN — Beyerdynamic, the 100-year-old German headphone pioneer that created the world’s first dynamic headphones, has been acquired by Chinese electronics manufacturer Cosonic. The Shenzhen-based company paid $1.37 billion in cash for the iconic brand.

The deal, finalized on June 6. marks another European audio giant changing hands amid industry shifts. Just three years ago, rival German brand Sennheiser sold its consumer division to Swiss hearing aid maker Sonova.

Cosonic—founded in 2013—specializes in making headphones for other brands. Its purchase of Beyerdynamic follows a pattern of Chinese manufacturers acquiring established Western audio companies. Samsung bought Harman, owner of JBL and AKG, in 2017.

Industry observers note traditional headphone makers face pressure from wireless technology. Apple’s removal of headphone jacks from iPhones since 2016 accelerated the shift to Bluetooth earphones—a segment where newer brands gained ground.

Beyerdynamic will continue operating from Germany. Regulatory approvals for the acquisition are pending.