Pioneer and KKR agree to Pioneer DJ share purchase
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  1. #1
    Tech Mentor frankle's Avatar
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    Default Pioneer and KKR agree to Pioneer DJ share purchase

    So it's really happening:

    Tokyo and Kawasaki, Japan ‐‐ September 16, 2014—Pioneer Corporation (“Pioneer”) and KKR today announced
    the signing of a share purchase agreement under which Pioneer’s business division that engages in the
    development, manufacturing and sale of DJ equipment will be spun off into a new company, Pioneer DJ*, which
    will be jointly owned by Pioneer and KKR.
    (*provisional name)
    Based on this agreement, KKR will acquire all of the outstanding shares of Pioneer DJ via holding company PDJ
    Holdings Co., Ltd. (“PDJHD”) for approximately JPY59 billion (approximately US$551 million at the exchange rate
    of US$1=JPY107). Pioneer will then acquire newly issued shares in PDJHD with the result that PDJHD will be
    owned 85.05% by KKR and 14.95% by Pioneer.
    Pioneer’s DJ equipment business develops, manufactures and sells equipment for DJs, including DJ players, mixers,
    controllers, headphones and speakers. It is a leader in the DJ equipment market with strong brand image,
    reputation for technological differentiation, and high profitability.
    Pioneer and KKR will jointly leverage their respective business resources, brand power and technological capability,
    as well as global‐technology and media‐industry investment experience, and networks for the further growth of
    Pioneer DJ.
    Susumu Kotani, Representative Director, President and CEO of Pioneer said, “As we accelerate our efforts to
    concentrate management resources on our car electronics business, Pioneer has been seeking the optimal partner
    to further the globalization of our DJ equipment business and expand the brand. We are pleased to have reached
    an agreement with KKR on the purchase of Pioneer DJ. KKR has a wealth of experience in the technology and
    media industry globally, and we are confident it has the expertise to drive Pioneer DJ forward. Pioneer will retain
    14.95% of the voting rights in Pioneer DJ and we will maintain a framework for cooperation to ensure the future
    growth of the company.”
    Hirofumi Hirano, Member of KKR and CEO of KKR Japan, said, “Pioneer has built a leading global DJ equipment
    business based on its powerful brands and excellence in matching product development to market requirements.
    KKR will work together with Pioneer DJ’s innovative management team and employees, and our investment
    partner Pioneer, to support further long‐term growth of the business.”
    Yoshiaki Ide, Executive Officer and Division Chief Officer of Pioneer’s Pro. Sound & Visual Business Division, said,
    “KKR’s global investment activities support the growth of businesses in a range of industries, including those in the
    technology and media sectors. As such, we believe this partnership will enable the further expansion of our own
    business. With KKR’s support, Pioneer DJ aims to add further customer value and exceed expectations with
    accelerated product development and enhanced service. In addition, Pioneer, as an important shareholder, will
    provide ongoing support.”
    Subject to approval by the relevant authorities and other customary closing conditions, the above agreements are
    expected to be completed by March 2015.
    Forward‐Looking Statements
    This release contains certain forward‐looking statements. Forward‐looking statements relate to expectations,
    beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning
    matters that are not historical facts. Such statements are subject to the risk that the terms of such transaction may
    be modified, the transaction may not be completed at all or the benefits and synergies from such transactions are
    not realized. The forward‐looking statements are based on the beliefs, assumptions and expectations of the
    parties referenced herein, taking into account all information currently available to them. These beliefs,
    assumptions and expectations can change as a result of many possible events or factors, not all of which are
    known to these parties or are within their control. None of the parties undertakes any obligation to update any
    2
    forward‐looking statements to reflect circumstances or events that occur after the date on which such statements
    were made except as required by law.
    About Pioneer Corporation
    Pioneer Corporation is a leading global manufacturer of electronic products for the consumer and professional
    markets. To embody our philosophy, “Move the heart and Touch the Soul”, Pioneer brings the world ever‐new
    products and services in the areas of Car Electronics, Home Electronics and other related devices and solutions. It
    also develops organic EL lighting, medical and healthcare equipment‐related products. Its shares are traded on the
    Tokyo Stock Exchange. For more information on Pioneer, visit the company's website at
    http://pioneer.jp/index‐e.php.
    About KKR
    KKR is a leading global investment firm that manages investments across multiple asset classes including private
    equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment
    returns by following a patient and disciplined investment approach, employing world‐class people, and driving
    growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings
    opportunities to others through its capital markets business. References to KKR's investments may include the
    activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR's
    website at www.kkr.com.


    So some interesting times ahead for Pioneer DJ!
    Main Gig Comp - MacBook Air 11" 1.3GHz i5, 4GB, 512GB, OS X 10.12.6
    Gig Gear - TSP 2.6.8 & 2.11.2, Kontrol X1mk2 (x2), D2 (x2), S5, Xone:92, Xone:PX5, CDJ-2000 (x2), DDJ-XP1 ... Rekordbox DJ 5 with a few packs ...
    Plenty of studio gear and not enough time ... and a few Nexo PA systems

  2. #2
    Tech Guru Patch's Avatar
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    BUY, BUY, BUY!!!

    no, wait...

    SELL! SELL! SELL!!!
    DJ'ing: 2x1200MK2, DJM 850, Dicers, F1, Zomo MC-1000, Sony MDR-v700, i7 Win 10 HP Envy
    Production: Ableton Live 8 and a mouse, Sennheiser HD400, Sony VAIO

    Click HERE to D/L Free Tracks from Soundcloud!!!
    https://www.facebook.com/Patchdj

  3. #3
    Tech Mentor deathy's Avatar
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    hah. Makes me think of the stock trader gremlin in Gremlins 2.

  4. #4
    Tech Guru deevey's Avatar
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    KKR is a leading global investment firm that manages investments across multiple asset classes including private
    equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment
    returns by following a patient and disciplined investment approach, employing world‐class people, and driving
    growth and value creation at the asset level.
    Guess they'll be cutting down on sponsorship and advertising a wee bit ...

    KKR: "who is this davinci fella anyhow"

  5. #5
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    Quote Originally Posted by Patch View Post
    BUY, BUY, BUY!!!

    no, wait...

    SELL! SELL! SELL!!!
    hahahaha
    13" Macbook Air i7, 8GB RAM, 512GB SSD | Traktor 2.7.1 | Ableton Live 9 | DJM-900 Nexus | NI Audio 10 | A&H Xone:K2 | Oyaide USB & RCA | HDJ-2000 | Odyssey BRLDIGITAL Bag

  6. #6
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    Never heard of KKR.
    Bedroom DJ | Pioneer DJM-800 | Pioneer CDJ2000 and CDJ900-NXS | 2 x Mackie MR8MKII | Sennheiser Amperior

  7. #7
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    Quote Originally Posted by SlvrDragon50 View Post
    Never heard of KKR.
    Why would you have done?, unless you're in the investment/asset management field I'd be surprised if you had.

    Be interested to know if they have any other music/media companies in the management portfolio though. May have to trawl the website..... if I get VERY bored......or even care.... in the least.

  8. #8
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    Interestingly, Allen & heath was bought up by investment group too. guess djing product are good investment nowadays

  9. #9
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    that could be a motive. maybe KKR is part of another larger group that has investments within the entertainment industry.

  10. #10
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    Quote Originally Posted by Killing time View Post
    that could be a motive. maybe KKR is part of another larger group that has investments within the entertainment industry.
    it isn't. It doesn't. This is purely an asset management/share buyout deal. As far as I can see they have no other companies in their portfolio, or as partners, that are in the media or entertainment industry. But I may well have missed something as companies like this are convoluted at best.

    ........yes, I was bored.

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