Latest news with #CarUX
Time of India
a day ago
- Automotive
- Time of India
Taiwan's Innolux unit buys former Japanese TV major Pioneer for $1.1 billion
TAIPEI: CarUX, a smart cockpit solutions provider and a subsidiary of Taiwan's display maker Innolux Corp, said on Thursday it will acquire Japan's Pioneer Corporation in a deal valued at 163.6 billion yen (around $1.1 billion). Pioneer was once a major Japanese player in consumer electronics, whose decline presaged the broader industry shake-up to come as Japanese manufacturers were unable to keep with larger, more efficient producers like South Korea's Samsung Electronics. CarUX said it has signed a definitive agreement with EQT, a global investment firm, to acquire a 100% stake in the Japanese electronics company. The deal is expected to increase CarUX's presence in the Asia-Pacific region and broaden its global product portfolio by combining its display and touch technology expertise with Pioneer's strengths in automotive sound system and Human Machine Interface (HMI) software development, the company said in a statement. "This acquisition brings strategic synergies for both CarUX and Pioneer," Innolux and CarUX Chairman Jim Hung said in a statement. CarUX said in March that it is planning a listing in the United States. Pioneer has long-standing partnerships with major Japanese and global automakers, including Toyota. Its president and CEO, Shiro Yahara, said it looks forward to collaborating with CarUX to "create the future of mobility experiences". Hung added at a press conference that Pioneer generated revenue of 240 billion yen in the fiscal year ending March 2024 and maintains a healthy financial structure, which is one of the key factors enabling the deal. Pioneer launched the world's first plasma TV in 1997 and briefly found success in the high-end segment. Pioneer was acquired in 2018 by Baring Private Equity Asia in a deal for $900 million, leading to its delisting from the Tokyo Stock Exchange. Baring was later acquired by Sweden-based EQT AB in 2022.
Reuters
2 days ago
- Automotive
- Reuters
Taiwan's Innolux unit buys former Japanese TV major Pioneer for $1.1 billion
TAIPEI, June 26 (Reuters) - CarUX, a smart cockpit solutions provider and a subsidiary of Taiwan's display maker Innolux Corp ( opens new tab, said on Thursday it will acquire Japan's Pioneer Corporation in a deal valued at 163.6 billion yen (around $1.1 billion). Pioneer was once a major Japanese player in consumer electronics, whose decline presaged the broader industry shake-up to come as Japanese manufacturers were unable to keep with larger, more efficient producers like South Korea's Samsung Electronics ( opens new tab. CarUX said it has signed a definitive agreement with EQT, a global investment firm, to acquire a 100% stake in the Japanese electronics company. The deal is expected to increase CarUX's presence in the Asia-Pacific region and broaden its global product portfolio by combining its display and touch technology expertise with Pioneer's strengths in automotive sound system and Human Machine Interface (HMI) software development, the company said in a statement. "This acquisition brings strategic synergies for both CarUX and Pioneer," Innolux and CarUX Chairman Jim Hung said in a statement. CarUX said in March that it is planning a listing in the United States. Pioneer has long-standing partnerships with major Japanese and global automakers, including Toyota (7203.T), opens new tab. Its president and CEO, Shiro Yahara, said it looks forward to collaborating with CarUX to "create the future of mobility experiences". Hung added at a press conference that Pioneer generated revenue of 240 billion yen in the fiscal year ending March 2024 and maintains a healthy financial structure, which is one of the key factors enabling the deal. Pioneer launched the world's first plasma TV in 1997 and briefly found success in the high-end segment. Pioneer was acquired in 2018 by Baring Private Equity Asia in a deal for $900 million, leading to its delisting from the Tokyo Stock Exchange. Baring was later acquired by Sweden-based EQT AB in 2022.
Bloomberg
2 days ago
- Automotive
- Bloomberg
EQT Sells Pioneer for $1.1 Billion in Second Japan Exit in 2025
EQT AB agreed to sell Pioneer Corp. for $1.1 billion, marking the biggest exit in Japan for the Swedish buyout firm that sees Japan as a key pillar of its dealmaking strategy in the region. Two of EQT's funds agreed to sell the Japanese automotive electronics manufacturer to CarUX, a subsidiary of Taiwan-listed Innolux Corp., according to a statement Thursday. The transaction is subject to customary conditions and approvals and is expected to be completed in the fourth quarter.
Nikkei Asia
2 days ago
- Automotive
- Nikkei Asia
Unit of Taiwan's Innolux buys former Japanese TV maker Pioneer for $1.1bn
Pioneer's booth is seen at the Consumer Electronics Show in Las Vegas in January 2025. TAIPEI (Reuters) -- CarUX, a smart cockpit solutions provider and a subsidiary of Taiwan's display maker Innolux said on Thursday it will acquire Japan's Pioneer Corporation in a deal valued at 163.6 billion yen (around $1.1 billion). Pioneer was once a major Japanese player in consumer electronics, whose decline presaged the broader industry shake-up to come as Japanese manufacturers were unable to keep with larger, more efficient producers like South Korea's Samsung Electronics.
CNA
2 days ago
- Automotive
- CNA
Taiwan's Innolux unit buys former Japanese TV major Pioneer for $1.1 billion
TAIPEI :CarUX, a smart cockpit solutions provider and a subsidiary of Taiwan's display maker Innolux Corp, said on Thursday it will acquire Japan's Pioneer Corporation in a deal valued at 163.6 billion yen (around $1.1 billion). Pioneer was once a major Japanese player in consumer electronics, whose decline presaged the broader industry shake-up to come as Japanese manufacturers were unable to keep with larger, more efficient producers like South Korea's Samsung Electronics. CarUX said it has signed a definitive agreement with EQT, a global investment firm, to acquire a 100 per cent stake in the Japanese electronics company. The deal is expected to increase CarUX's presence in the Asia-Pacific region and broaden its global product portfolio by combining its display and touch technology expertise with Pioneer's strengths in automotive sound system and Human Machine Interface (HMI) software development, the company said in a statement. "This acquisition brings strategic synergies for both CarUX and Pioneer," Innolux and CarUX Chairman Jim Hung said in a statement. CarUX said in March that it is planning a listing in the United States. Pioneer has long-standing partnerships with major Japanese and global automakers, including Toyota. Its president and CEO, Shiro Yahara, said it looks forward to collaborating with CarUX to "create the future of mobility experiences". Hung added at a press conference that Pioneer generated revenue of 240 billion yen in the fiscal year ending March 2024 and maintains a healthy financial structure, which is one of the key factors enabling the deal. Pioneer launched the world's first plasma TV in 1997 and briefly found success in the high-end segment. Pioneer was acquired in 2018 by Baring Private Equity Asia in a deal for $900 million, leading to its delisting from the Tokyo Stock Exchange. Baring was later acquired by Sweden-based EQT AB in 2022.
