Osaka, Japan-based Panasonic said on Friday, April 23, that it has agreed to acquire Blue Yonder, the end-to-end digital fulfillment platform provider. The deal, which PYMNTS reported last month, comes at a time when a surge in eCommerce has boosted demand for technology to smooth the process of moving goods from suppliers to retailers to customers.
According to a news release, Panasonic is expected to purchase 80% of shares (US$5.6 billion) of Blue Yonder. When including the payment of outstanding debt, the cost increases to US$7.1 billion. Existing shareholder New Mountain Capital will purchase the remaining shares, with funds managed by Blackstone.
With the rise of eCommerce and the proliferation of data in the wake of COVID-19, there has been a greater need for more intelligent and edge-aware software supply chains.
This acquisition builds on the two companies’ existing strategic relationship, which was established in January of 2019. In November of 2019, Panasonic and Blue Yonder formed a joint venture company in Japan. This past July, Panasonic took a 20% minority ownership and one seat on the board of directors at Blue Yonder.
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