Japanese electronics giant Pioneer is putting the DJ equipment arm of their operation up for sale, with a rumoured asking price of ¥60 billion ($570 million), according to sources close to the company.
It seems an unusual move, with Pioneer equipment being ubiquitous from nightclubs to festivals, not to mention the fact their DJ branch was turning a profit at the end of the last financial year. However, Pioneer is looking to sell off various “non-core” parts of the company in order to concentrate on their automotive electronics.
Unlike ill-fated predecessor, the Technics 1210, the CDJ players and DJM mixers are still relevant in the modern environment. Even since the major decline in CD use, most DJs just use the units almost as digital controllers, with their tunes on a flash drive.
The big question now is: who will buy? Competitors include Native Instruments and Allen & Heath, though their foothold in the DJ equipment sector is nowhere near the level of Pioneer, the latter largely focusing on live and studio mixers.
Pioneer and deal broker Merrill Lynch have declined to comment on the sale as the deal has not officially been made public.