BY Fraser Tennant
In a move designed to deliver new cloud capabilities, innovate global supply chains and create a more sustainable world, Japanese multinational electronics company Panasonic Corporation is to acquire US software and consultancy company Blue Yonder in a transaction valued at $1.7bn.
The acquisition sees Panasonic purchase the remaining 80 percent of shares of Blue Yonder, adding to the 20 percent it acquired in July 2020. It builds on a strategic relationship, established in January 2019 with a partnership, followed by the creation of a joint venture company in Japan in November 2019.
Moreover, the purchase of Blue Yonder enhances Panasonic’s digital transformation and customer-centric focus. To this end, on 1 April 2022, the company plans to shift to a holding company system concentrating management resources on strategic businesses in key areas such as providing supply chain innovation and automation.
“I am happy to welcome Blue Yonder and its associates to the Panasonic Group,” said Yuki Kusumi, chief executive of Panasonic. “By merging the two companies, we would like to realise a world where waste is autonomously eliminated from all supply chain operations and the cycle of sustainable improvement continues.”
Over the past year, the need for more intelligent, autonomous and edge-aware supply chains has been dramatically heightened by the coronavirus (COVID-19) pandemic, the rise of e-commerce and the proliferation of data.
“There are still many such losses and stagnation in supply chain operations,” added Mr Kusumi. “So, through the drastic reduction of wasted labour and resources, we would like to provide better ways of working, and contribute to customers’ management reform and also to the realisation of a sustainable society by carefully using limited global resources.”
Together, Panasonic and Blue Yonder intend to deliver a unique competitive advantage for customers to drive more automation and actionable, real-time business insights that reduce waste and improve operations, while creating a more sustainable world.
“I am thrilled that Blue Yonder is joining Panasonic,” said Girish Rishi, chief executive of Blue Yonder. “We have developed mutual trust and have a shared vision for an autonomous supply chain that delivers a better life and a better world.”
Approved by the boards of directors of both Panasonic and Blue Yonder, the acquisition is expected to close by the second half of 2021, subject to receipt of customary regulatory approvals.
News: Panasonic to buy U.S. supply-chain software firm Blue Yonder for $7.1 bln