BPEA acquired Pioneer, then a public company, in late 2018, making it a wholly owned subsidiary of the company, which is based in Hong Kong. It spent the equivalent of about $904 million on the purchase of Pioneer, including a $680 million investment in Pioneer and a $220 million cash offer to Pioneer shareholders.
Bloomberg noted that Pioneer’s roots trace back to the 1930s and that it became an “icon of audio electronics.” It also said the company is facing the challenges of a shifting automotive market as it moves towards autonomous cars.
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