After reports of the potential acquisition last month, Panasonic has officially announced it'll acquire supply chain software provider Blue Yonder for an undisclosed sum.
With the acquisition, Panasonic builds upon its strategic partnership with Blue Yonder, which began in January 2019. The Panasonic Group also plans to buy 80% of Blue Yonder's shares for $5.6 billion, adding to the 20% it purchased in July 2020.
“The need for more intelligent, autonomous and edge-aware supply chains has been dramatically heightened by the COVID-19 pandemic, the rise of e-commerce and the proliferation of data,” said Panasonic.
Panasonic and Blue Yonder’s new deal aims to address this issue by reinforcing the power of combined artificial intelligence (AI)/machine learning (ML), internet of things (IoT), and edge devices to maximize supply chains.
As part of their collaboration, Panasonic will integrate its expertise in industrial engineering, IoT, and edge technologies with Blue Yonder’s AI/ML-driven supply chain platform Luminate.
Luminate Planning uses artificial intelligence, machine learning, big data, and robust algorithms to detect disruptions in the supply chain, such as shortages of material and weather events.
Combined technologies will help customers gain actionable, real-time business insights that reduce waste and improve operations while creating a more sustainable world, added Panasonic.
The Panasonic-Blue Yonder deal is anticipated to close in the second half of 2021, subject to customary regulatory approvals.
“I’m extremely happy to welcome Blue Yonder and its associates to the Panasonic Group, comments Panasonic CEO Yuki Kusumi.
“Both companies have the same mission to support customers’ frontline operations and we have a high affinity in our corporate cultures. 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. There are still many such losses and stagnation in supply chain operations, so through the drastic reduction of wasted labor and resources, we would like to provide better ways of working, and contribute to customers’ management reform and also to the realization of a sustainable society by carefully using limited global resources. I am confident that by combining the power of Blue Yonder and Panasonic, we can create innovation in global supply chains."
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