The latest in EDM News, Japanese websites are reporting that Pioneer could be leaving the DJ business.
TOKYO — U.S. private equity fund KKR and Japan’s Pioneer plan to sell off a jointly owned DJ equipment business, with a buyer expected to be chosen by autumn.
Pioneer DJ is likely to draw interest from companies outside Japan and large investment funds. The bidding process is slated to wrap up in the summer or fall.
In 2015, the Japanese company sold an 85.05% stake in Pioneer DJ to KKR for about 59 billion yen ($550 million at the time), while holding on to the rest. The spun-off unit controlled a global share of 60% to 70% in mixers, turntables and other disc jockey equipment, generating annual revenue totaling tens of billions of yen. Pioneer DJ was especially strong in Europe and the U.S.
After selling 85% of it’s DJ business to investment firm KKR & CO in 2015, no one knows what the future could be for the DJ equipment manufacturer. This could be devastating for EDM artists and DJs worldwide. No one knows who will own the company, and what they plan to do with it.
Except for the investors.