Pioneer to sell DJ business

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  • The deal, worth 59 billion yen ($551 million), is set to close next March.
  • Pioneer to sell DJ business image
  • A private equity firm is buying Pioneer's DJ business. RTT News reports that the US firm Kohlberg Kravis Roberts is paying 59 billion yen, or around $551 million, for the division, which is responsible for both the industry-standard CDJ and forthcoming PLX-1000 turntable. Through a transfer of shares as part of the deal, ownership in Pioneer DJ will actually be something like 85/15, with KKR retaining the lion's share of ownership. Reuters notes that the deal seems to be part of a wider strategy of "selling off non-core assets to focus on its automotive electronics business"; it was announced last Friday that the company was selling its home audio-visual division to another Japanese audio company, Onkyo.
RA