Pioneer Japan has sold its DJ equipment division to U.S.A.-based investment firm KKR & Co. L.P.
Pioneer will retain a 15% stake in the venture, which will maintain the name “Pioneer DJ.” Pioneer’s president, Susumu Kotani, revealed that the sale was to further the company’s goal of concentrating management resources on its car electronics business.
Pioneer DJ is known to many as the industry standard name in professional-grade media players and DJ mixers. The company recently announced the production of its PLX-1000 turntable, which aims to fill the void created after the discontinuation Technics’ infamous 1200 series.
Source: BBC News