DJ Industry equipment leader ‘Pioneer’ is on the verge of leaving the industry soon. Pioneer has been producing cutting-edge DJ products for more than two decades. According to news reports by Nikkei Business (a Japenese Media Co.), KKR & Co. which holds almost 85% stake in Pioneer DJ and Pioneer Corp. holds just 15% remaining share are about to withdraw their stakes from Pioneer DJ. Both the companies are in negotiations to offload the entire stock to new buyers. If the deal takes place, then Pioneer Corp. will fully withdraw from the DJ equipment business.
The report continues further, that bidding has already begun with the football field of 60 billion to 70 billion yen, which amounts more than $500 million in US currency. Pioneer DJ achieved sales of $200 million in 2018, meanwhile, the parent company reported losses in 2016 and 2017. Pioneer has almost 70% market share globally in DJ mixers, turntables and other equipment.
It’s CDJ players remains an industry standard of DJ booths worldwide. Even after being the industry leader, Pioneer Corp. was recently restructured when it laid off 3000 workers in January, 15% of its entire workforce, while receiving a bailout package of $930 million from Baring Private Equity Asia, according to Japan Times.
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