About a year ago Pioneer announced a new social media network for DJs called Kuvo which links clubs, DJs, and audiences together. The system has been implemented around the world in many countries where clubs, DJs, and audiences alike have been connecting and sharing music with one another through their online social network. As of October 15th, Pioneer re-launched […]
With the recent success of their exploding controller line, last week many in the DJ field wondered: Why did Pioneer sell their DJ division to investment company KKR for $551 million? Leadership in Japan has been talking about the sale of Pioneer DJ for months according to a source close to the deal and both companies. That source chatted with us on the condition of anonymity, revealing fresh details on the sale and what DJs might expect in the future.
The deal to sell Pioneer's DJ equipment division has been inked, with private equity firm KKR acquiring all outstanding shares of Pioneer DJ for approximately 59 billion Japanese Yen - or about $551 million US dollars. Pioneer will retain about 15% share in the company and equivalent voting rights in the DJ manufacturer.
Today Reuters reported, and Pioneer confirmed they are "considering" selling their highly successful DJ division. People familiar with the transaction indicated such a deal could be worth 570 million US dollars. Pioneer is certainly at the top of their game with some of the most popular DJ gear in the market bearing their stamp this year. Perhaps it's a good time to go out on top - but what does that mean for the DJ industry?