Aqipa acquires all assets of Pioneer & Onkyo Europe* and takes over distribution in Europe

THIS was drawn to my attention today as a story from What HiFi. I see this as a continuing contraction of the old fashioned industry. Folks are buying soundbars to go with the TVs that Pioneer and Onkyo do not make. The European office of Pioneer will be shutting. I cannot help but feel that a slew of jobs are going, no matter what the happy corporate upbeat stuff says. The Austrians get a sexy slew of brands with some sales, to add to their bread and butter.. the Japanese, effectively seem to be washing their hands of this foreign market. No more Japanese company warriors at Outposts of Empire.. that era is over.  No More Pioneer Corp as such..anywhere in Europe, just brands sold by a distributor.

Osaka (Japan) and Kundl (Austria), July 2nd, 2018:

Onkyo & Pioneer Corporation and Aqipa GmbH, a value-added distributor within the consumer electronics channel, has agreed an asset deal concerning the transfer of business activities – relating to the hifi and home cinema brands Pioneer, Onkyo, Integra, Teac and Esoteric – to Aqipa. The asset deal is worth roughly € 140 million in revenue and applicable for all European markets.

Based on this agreement, all business activities relating to sales, marketing, after sales service, customer care, finance, spare parts and distribution for the brands Pioneer, Onkyo, Integra, Teac and Esoteric in Europe will be transferred to Aqipa with effect from October 1st, 2018.

Like I said..end of an era. ED.