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Pioneer Company sold!

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#1 of 1 OFFLINE   zoetmb


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Posted June 24 2014 - 07:51 AM

[font="verdana, geneva, lucida, 'lucida grande', arial, helvetica, sans-serif;"]Pioneer has agreed to sell itself (except for aftermarket and OEM car audio) to Baring Private Equity Asia, which will own 51% of the company. Onkyo and Pioneer will split 49%, but how that will be split between them hasn't been announced (I'm guessing 39% to Onkyo and 10% to Pioneer).[/font]

Pioneer and Onkyo will also “commence discussions with an eye to integrating a part of home A/V business operations between Pioneer and Onkyo,” Pioneer noted. The Onkyo and Pioneer home electronics brands, however, will maintain their separate brand names.

[font="verdana, geneva, lucida, 'lucida grande', arial, helvetica, sans-serif;"]I hope that means back office functions and distribution and not design. I would hate to see Pioneer become Onkyo with a Pioneer label on it.[/font]

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