Pioneer DJ has a new owner that you’ve never heard of. Recently, a Japanese company called Noritsu bought the renamed ‘AlphaTheta’ company from its previous owners. The new Owner, Noritsu, is a famous company from Japan dedicated to photo processing machine manufacture.
How Will This Affect Pioneer DJ?
Pioneer DJ sent a press release stating that business, operations, brands, including brand names will not be affected.
They promised the continuation of their contribution to the music industry with their innovative products, like their DJM-V10 controller. They will also keep providing superior service through Pioneer DJ, Rekordbox, KUVO, TORAIZ, and Pioneer Professional Audio brands.
The Details of The Operation
Pioneer DJ was purchased for about $324.9 million, a huge figure, but still significantly less than KKR purchased their shares of the company in 2015.
Besides, Noritsu will also use a 30 billion yen non-recourse loan to pay the interest-bearing debt of the target company. It will be huge financial support for a company that needed a fresh cash infusion.
Who is Noritsu?
Noritsu, Pioneer DJ new owner, makes photo processing, printing, and scanning equipment, as well as pharmacy automation equipment. They also own several subsidiaries. This will be a new market for the company.
“We are proud to have worked with the management team and employees of Pioneer DJ, now AlphaTheta, to assist the business’ growth in key global markets and to accelerate the company’s migration towards a software-subscription model to align with emerging industry trends – all as a standalone company,”Hiro Hirano, co-head of private equity for KKR Asia Pacific and CEO of KKR Japan
This change of ownership and financing for Pioneer DJ will let the company start developing new creative and interesting products. In addition, it could involve an upcoming release of Rekordbox 6 sooner than later.