The ongoing rumours about Japanese car electronics company Pioneer selling their successful DJ division finally have an end. As Reuters reports, Pioneer has fixed the deal and sells the department for US$ 550 million to US private equity firm KKR & Co LP. Pioneer will transform the DJ division into a spin-off company called „Pioneer DJ“ before selling it.
It remains unclear what KKR will do with the highly influential department and what effects it will have on the consumer. Susuma Kotani, President of Pioneer, stated that the DJ business was „highly profitable“, but the sale is done now and helps Pioneer to concentrate their resources on the car-related business.