Whos buying Pioneer?
Who is buying Pioneer DJ? No, not whos buying Pioneer DJ gear thats you lot, in droves it seems but Pioneer DJ itself. Yup, the Pioneer corporation better known until the late 80s for its car stereos, before storming the DJ booth with the invention of the CDJ is selling its DJ division for a reported $570m, to get back to its core business. Whats more, the sale is in its final stages, according to reports in a Reuters news article and independently from another industry source to us today.
According to an article on Reuters, Pioneer Electronics is close to finalizing the sale of its DJ equipment division, responsible for manufacturing the CDJ and DJM line of pro-audio gear.
Japanese car electronics maker Pioneer Corp is in the final stage of selling its disc-jockey equipment business, which could fetch about 60 billion yen ($570 million), two people with knowledge of the transaction said.
Pioneer has hired Bank of America Merrill Lynch to handle the sale, said the sources, asking not to be named because the process has not been made public.
Global private equity firms are among the final bidders, they added.
So the big question is: Whos buying? Whos got that frankly staggering amount of money?
The sale is said to be part of Pioneers effort to focus on strictly automobile audio components. The DJ division was reported to be profitable at least through March of this year.
Well, that is really strange. Pioneer DJ which has in recent years expanded its CDJ and mixer range to cover digital DJ controllers and even a turntable is actually profitable.
Then why Pioneer sell it DJ division?
But with the DJ world rapidly consolidating into mega-brands, what next? NI to buy Technics? Digital DJ Tips to make an audacious bid for Acapellas4u? Richie Hawtin to buy Ean Golden? We cant possibly comment at this time on any of these rumours, but be sure to watch this space to find out
And who ready to pay $570 millions?
Would Denon DJ or Native Instruments be interested? Possibly Numark or Allen & Heath? We sincerely doubt any of these companies have the financial clout to buy Pioneer Dj. Whoever does though they will have a formidable range of products but will also face the challenge of continuing to produce the quality Pioneer DJ are so well known for.
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