Pioneer completes the transfer of shares in its home entertainment, consumer headphone and phone businesses to Onkyo, thus finalising the business deal first announced back in June 2014.
As a result Pioneer Home Entertainment (PHE) is now an Onkyo subsidiary. The unit covers Pioneer home cinema amplifier, Blu-ray player and other AV products (but no DJ or in-car audio), and all Pioneer Electronics USA employees will be transferred to the PHE subsidiary. Pioneer will keep its factories, even if it will transfer its home entertainment product inventory.
Following the transfer the Onkyo home electronics business will join PHE from 1 July 2015. The deal makes Pioneer 3rd biggest Onkyo shareholder with a 14.95% stake in the company, following Gibson Guitar, who has a 21% stake.
In other Pioneer news the company is shedding another unit-- the Pioneer DJ pro-DJ business, who goes to investment company KKR.
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