Panasonic Corp plans to attain U.S. supply-chain software firm Blue Yonder. Accordingly, the deal will cost Panasonic Corp around 700 billion yen ($6.45 billion). This purchase marks the Japanese electronics firm’s biggest acquisition since 2011.
Blue Yonder is an American based software and consultancy company. The acquisition of Blue Yonder is expected to help Panasonic’s supply chain management services. More so with the lingering COVID-19 pandemic and the urgency to focus on resilience to disruption. Blue Yonder’s machine learning technology can help companies manage supply chains that connect factories to warehouse and retailers. Several big name companies being handled by Blue Yonder are Walmart Inc, Starbucks Corp and Unilever PLC.
Panasonic deepens partnership with Blue Yonder
The affiliation between Panasonic and Blue Yonder started last year. At that time, Panasonic bought 20% of Blue Yonder’s stake for 86 billion yen. According to Nikkei, Panasonic is looking to acquire the remaining stock from shareholders, including Blackstone Group Inc, this year.
Blue Yonder acquisition marks Panasonic’s biggest purchase for quite some time. Panasonic’s attempt to make Sanyo Electronic and Panasonic Electric Works wholly-owned subsidiaries back in 2011 costed the company around 800 billion yen. Noted from Reuters, the money majorly came from the company’s own fund and loans or other financing.
To address the whole ordeal, Panasonic left an e-mailed statement saying, “This is not something that has been announced by our company. It is not true that it is something we have decided”.
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