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Panasonic Corp is buying Blue Yonder, an American software, and consultancy company, for $6.5 billion or ¥700 billion. It was said that this would be the Japanese electronics company’s biggest purchase since 2011.
The expectation from the acquisition
Reuters reported that Panasonic already acquired a 20% stake in Blue Yonder last year, and the sale was for ¥86 billion. On March 8, it was revealed that Panasonic would be buying the rest of the stock from the shareholders that include Blackstone Group Inc. and New Mountain Capital.
“This is not something that has been announced by our company,” Panasonic told the publication via an emailed statement. “It is not true that it is something we have decided.”
It was added that the purchase is expected to strengthen the company’s supply chain management services, especially in this period when the coronavirus crisis forced companies to change.
Apparently, the pandemic made businesses work on their resilience to make sure they can survive amid sudden disruptions, so Panasonic is focusing on improving and bolstering any service it can possibly offer. Thus, the purchase of Blue Yonder is one of the steps to achieve the goal.
Panasonic’s business direction
In any case, Panasonic is buying using its own funds, but there could be some coming from loans or financing too. As per Nikkei Asia, the deal is already in the final stages and will be completed soon.
The world-renowned Japanese firm is aiming to expand its hardware by combining them with software, sensors, and other tools to be useful to companies by improving operational efficiencies. The move to acquire Blue Yonder shows that Panasonic’s business model is changing in terms of its intention to do more in the manufacturing industry. Up until now, the company has only been mostly into selling goods.
Meanwhile, Blue Yonder is a software and consultancy company that provides supply chain management, retail planning, manufacturing planning, store operations management, and more. It will be a big help to Panasonic, especially in managing the supply chain. The company utilizes artificial intelligence (AI) to forecast product demand and delivery dates.
Blue Yonder was founded in 1985 and boasts of having over 3,300 clients globally. Some of its major clientele include Walmart and Unilever.
