Panasonic to buy AI logistics firm Blue Yonder for $7.1 bil
24 April, 2021
Panasonic will buy American AI supply chain software firm Blue Yonder for $7.1 billion, the Japanese company said Friday.
The deal can make Blue Yonder a wholly owned subsidiary of japan electronics giant, which includes held 20 percent of the U.S. firm's shares since July this past year.
Following regulatory approval, the offer will be one of the primary acquisitions in Panasonic's history.
Blue Yonder has more than 3,000 clients worldwide, including multinationals Walmart and Coca Cola and also airlines and couriers such as for example FedEx.
"The necessity for more intelligent, autonomous and edge-aware supply chains has been drastically heightened by the COVID-19 pandemic," Panasonic said in a statement, citing "drastic shifts in supply demand" due to virus lockdowns.
The firm said the merger would allow it to get expertise in "state-of-the-art" artificial intelligence technology, and would work to reduce waste in supply chains.
It also praised the "flexible, agile corporate culture" of Arizona-headquartered Blue Yonder, that was established in 2005.
Source: japantoday.com
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