Panasonic to buy U.S. supply-chain software firm Blue Yonder for $7.1 billion
04/23/2021 9:14
TOKYO (Reuters) -In its biggest acquisition in a decade, Panasonic Corp on Friday said it will buy U.S. supply-chain software company Blue Yonder in a deal worth $7.1 billion, to tap growing demand from companies as the COVID pandemic tests their resilience to disruption.
Panasonic, which bought a 20% stake in Blue Yonder for 86 billion yen ($797 million) last year, will acquire the rest of the stock from shareholders including Blackstone Group Inc and New Mountain Capital, in an agreement, including debt, that values Blue Yonder at $8.5 billion, the company said in a press release.
Panasonic acquires Blue Yonder for $7.1 billion PUBLISHED BY
acquire
$7.1 billion in one of the largest acquisitions for the Japanese conglomerate.
Panasonic, which already has a 20% stake in Blue Yonder, will now buy the rest of the U.S. artificial intelligence software developer from
New Mountain Capital and funds managed by
Blackstone Group Inc. for $5.6 billion, according to a statement released Friday. Blue Yonder’s acquisition includes repayment of outstanding debt.
Panasonic’s total investment in the AI firm will amount to $7.1 billion.
Panasonic Corporation Headquarters in Kadoma-shi, Osaka, Japan.
“The need for more intelligent, autonomous and edge-aware supply chains has been dramatically heightened by the COVID-19 pandemic,” Panasonic said.
TOKYO (Reuters) - In its biggest acquisition in a decade, Panasonic Corp on Friday said it will buy U.S. supply-chain software company Blue Yonder in a deal worth $7.1 billion, to tap growing demand from companies as the COVID pandemic tests their resilience to disruption. Panasonic, which bought a 20% stake in Blue Yonder for 86 billion yen ($797 million) last year, will acquire the rest of the stock from shareholders including Blackstone Group Inc and New Mountain Capital, in an agreement, including debt, that values Blue Yonder at $8.5 billion, the company said in a press release. The need for more intelligent, autonomous and edge-aware supply chains has been dramatically heightened by the COVID-19 pandemic, Panasonic said.
BusinessPanasonic to buy U.S. supply-chain software firm Blue Yonder for $7.1 bln
Reuters
1/2
A logo of Panasonic Corp is pictured at the CEATEC JAPAN 2017 (Combined Exhibition of Advanced Technologies) at the Makuhari Messe in Chiba, Japan, October 2, 2017. REUTERS/Toru Hanai
Read More
In its biggest acquisition in a decade, Panasonic Corp (6752.T) on Friday said it will buy U.S. supply-chain software company Blue Yonder in a deal worth $7.1 billion, to tap growing demand from companies as the COVID pandemic tests their resilience to disruption.
Panasonic, which bought a 20% stake in Blue Yonder for 86 billion yen ($797 million) last year, will acquire the rest of the stock from shareholders including Blackstone Group Inc (BX.N) and New Mountain Capital, in an agreement, including debt, that values Blue Yonder at $8.5 billion, the company said in a press release.
Panasonic to buy US software firm Blue Yonder for $7 1b from Blackstone, others dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.