Panasonic has acquired supply chain and AI software provider Blue Yonder in a $7.1 billion deal.
Panasonic will purchase the remaining 80 percent of shares for $5.6 billion of Blue Yonder, adding to the 20 percent which Panasonic acquired in July 2020.
With this, the Blue Yonder valuation has now touched $8.5 billion.
“By merging the two companies, we would like to realize a world where waste is autonomously eliminated from all supply chain operations and the cycle of sustainable improvement continues,” said Panasonic CEO Yuki Kusumi.
This acquisition strengthens Panasonic’s portfolio and accelerates the companies’ shared Autonomous Supply Chain mission, empowering customers to optimize their supply chains using the combined power of AI/ML and IoT and edge devices.
Total revenue of Blue Yonder was over $1 billion, 67 percent of which was recurring revenue, in 2020.
The company has more than 3,000 customers including 65 of the top 100 retailers, 48 of the top manufacturers, and 9 of the top 10 global third-party logistics companies.