Despite controlling up to 70% of the DJ-focused technology market, Japanese tech giant Pioneer are reportedly trying to sell 100% of their DJ subsidiary to a new buyer.
Pioneer Corp. currently own 15% of the Pioneer DJ division, having previously sold 85% to investment firm KKR & Co. back in 2015, both KKR & Co. and Pioneer are selling 100% of their stock.
The potential sale comes as the Pioneer brand faces a number of financial struggles, having laid off 3,000 staff back in January, they also accepted a bail-out from Baring Private Equity Asia in the range of $900M.
Bidding for Pioneer DJ has already begun, with estimates putting the deal around 60-70 billion Yen, which converts to about $500M.
As consumers, we will have to wait and see how this affects the future of music technology, as if the sale is successful, Pioneer will reportedly leave the DJ market entirely.