According to Pioneer’s new growth strategy, the company is set to sell of their DJ equipment branch to KKR & Co for $550 million. Pioneer stated that “we realised we wouldn’t be able to invest in the DJ business so it would be better to spin it off and grow it independently.” Instead the company is turning to the automotive electronics business as they see this course as the most viable for growing their brand.
This announcement isn’t really a surprise to people who pay attention to the company though, it’s been known that Pioneer has been looking to cut costs and move in a new direction for some time now. Even after the sale, Pioneer will retain a 15% share in the new company while KKR will have an 85% share. Pioneer revolutionized the DJing world back in 1994 when they released the CDJ-500. This allowed DJs to now utilize CDs instead of having to carry around massive vinyl collections with them to every show.
So what does this sale mean for DJs? Not a whole lot it turns out. The entire staff (700 people) from Pioneer’s DJ equipment division will be transferring to KKR and will essentially be doing the same jobs they are doing now. Expect them to keep putting out the same quality equipment that they’re known for, and hopefully they’ll keep pushing the envelope to find the next piece of equipment that will alter the course of music history.
If you’re interested in learning more about Pioneer’s CDJ history check out this short documentary:
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