After a report surfaced earlier in the month that Pioneer Corporation had put its DJ equipment division on the selling block, the Japanese manufacturer has confirmed it has sold Pioneer DJ to private equity firm KKR & Co LP For $550 million.
Pioneer has been selling off non-core assets to focus on its automotive electronics business. On Friday, the company said it would sell its home audio-visual business to audio equipment maker Onkyo Corp.
Obligatory press release gush from Susumu Kotani, Representative Director, President and CEO of Pioneer, said, “As we accelerate our efforts to concentrate management resources on our car electronics business, Pioneer has been seeking the optimal partner to further the globalization of our DJ equipment business and expand the brand. We are pleased to have reached an agreement with KKR on the purchase of Pioneer DJ. KKR has a wealth of experience in the technology and media industry globally, and we are confident it has the expertise to drive Pioneer DJ forward. Pioneer will retain 14.95% of the voting rights in Pioneer DJ and we will maintain a framework for cooperation to ensure the future growth of the company.”
Obligatory press release gush from Hirofumi Hirano, Member of KKR and CEO of KKR Japan, said, “Pioneer has built a leading global DJ equipment business based on its powerful brands and excellence in matching product development to market requirements. KKR will work together with Pioneer DJ’s innovative management team and employees, and our investment partner Pioneer, to support further long-term growth of the business.”
Pioneer DJ, a globally distributed manufacturer of DJ equipment owned by Japan-based Pioneer Corporation, is for sale.
According to Reuters, Pioneer Corporation is in the process of selling Pioneer DJ in a deal that could fetch $570 million. The report stated that Bank of America Merrill Lynch will handle the sale and various global equity firms are among the final bidders for the division.
Pioneer Corporation, which is said to have turned a profit last year, is in the process of selling off non-core assets to focus on the automotive electronics business. In June the firm agreed to sell most of its loss-making audio-video operations to a consortium comprising Hong Kong-based Baring Private Equity Asia and audio equipment maker Onkyo Corp. That deal has yet to close.
In related news, last month Pioneer, which is famous for its CDJ line of CD players, expanded its DJ line to India.
While vinyl afficiandos are chomping at the bit to find out more about the turntable Pioneer teased last month, there’s a buzz building about another deck. Available exclusively at select indie record shops in the U.S. on Record Store Day on April 19, the Crosley Peanuts Cruiser Turntable is a perfect throwback for those who grew up with portable turntables, or those wanting to share the experience with the current generation. The briefcase style unit is made out of wood and bound in a leatherette material and includes built-in stereo speakers. The turntable retails for $119.95 and will definitely sell-out, meaning that notorious sad sack Charlie Brown definitely won’t get one.
Belt-Driven Turntable Mechanism
Manual Return Tone Arm
Plays 3 Speeds – 33 1/3, 45 And 78 RPM Records
Dynamic Full Range Stereo Speakers
Output – RCA, Headphone Jack
AC Power Adapter
Unit (L x W x H) = 4.63 x 14 x 10.5
Unit Weight (Lbs) = 5.5
Shipping (L x W x H) = 15 x 15 x 10
Shipping Weight (Lbs) = 9
The folks at Pioneer DJ might be known for their wide range of professional DJ gear, but they haven’t forgotten the newbies in the marketplace. Today the company announced a new addition to its line, the entry level DDJ-SB Serato DJ controller. The unit is compact, easily transportable and brandishes all of the bundled Serato DJ Intro’s cues, loops, FX and samples. The DDJ-SB sports what it says is “the industry’s first Filter Fade, which helps aspiring DJs create seamless mixes by adding a high pass filter to the crossfader – enabling smoother transitions with just one control.” The DDJ-SB, bundled with Serato DJ Intro, will go on-sale January 2014 at an SRP of €249/£199, including VAT. A full list of features and promo video can be found below:
KEY FEATURES OF THE DDJ-SB
Plug-and-play control of Serato DJ Intro (free) and Serato DJ (paid upgrade)
Access a host of cues, loops, FX and samples
NEW! Filter Fade
Eight Performance Pads
Manual high/low pass filters on each channel
Dedicated website with interactive tutorial videos
Pro-DJ design and build
Built-in sound card
Pioneer has been unstoppable as of late. In recent weeks the company has introduced rekordbox for iOS and Android as well as the all-in-one DJ system XDJ-AERO and the DDJ-ERGO-K controller. Now the firm has unveiled DDJ-WeGo, an easy-to-use DJ console for beginners. It seems pretty simple to use: DJs playing music through DJ software on their laptops can now use the WeGO’s buttons and knobs to control the sound and get a hands-on DJing experience. The unit comes bundled with VirtualDJ LE so the controller can be used straight out of the box, and WeGO customers will also be eligible for a free upgrade to VirtualDJ 8 LE1 upon release. The WeGO will be compatible with a variety of popular DJ software packages to suit any style including Algoriddim’s djay. Have a look at the video below to see DDJ-WeGO in action.