Pioneer to Sell DJ Division to KKR

After much industry specularion, Pioneer has confirmed that it will sell its DJ equipment division to U.S. private equity firm Kohlberg Kravis Roberts.

KKG will pay 59 billion yen (approximately $551 million) for the shares in Pioneer DJ and will own 85.05% of the company, while Pioneer DJ will retain 14.95% ownership. The agreements are expected to close by March 2015, and both KKR and Pioneer will leverage their business resources for future growth and expansion of Pioneer DJ.