Panasonic, a global electronics and technology giant, acquired a 20% stake in Blue Yonder in July 2020 and will purchase the remaining 80% for $5.6 billion. The total new investment, including repayment of outstanding debt, is $7.1 billion, valuing Blue Yonder at $8.5 billion.
JDA Software changed its name to Blue Yonder in February 2020. JDA acquired Blue Yonder, a provider of artificial intelligence (AI) and machine learning (ML) supply chain and retail solutions, in August 2018. The company said at the time that evolving the JDA brand and name to Blue Yonder also further supports and impacts AI and ML technologies across the supply chain , logistics and retail markets .
Panasonic and Blue Yonder said the acquisition strengthens Panasonic's product portfolio and accelerates the companies' shared autonomous supply chain mission, enabling customers to optimize their supply chains by leveraging the power of AI/ML and the Internet of Things (IoT) and edge devices.
Panasonic and Blue Yonder established a strategic relationship through a partnership in January 2019, followed by a joint venture in Japan in November 2019. In July 2020, Panasonic acquired a 20% minority stake and a seat on the board of directors of Blue Yonder.
The acquisition also strengthens Panasonic's digital transformation and customer-centric initiatives. The Panasonic Group will transform into a holding company system on April 1, 2022, focusing management resources on strategic businesses in key areas such as providing supply chain innovation and automation.
Yuki Kusumi, CEO of Panasonic , said: "I am very pleased to welcome Blue Yonder and its partners to the Panasonic Group. Both companies share the same mission to support customers' frontline operations, and we have a high affinity in our corporate cultures. By merging the two companies, we hope to realize a world where one . I am confident that by combining the strengths of Blue Yonder and Panasonic, we can create innovation in the global supply chain."
Girish Rishi, CEO of Blue Yonder, meanwhile, said, "I am delighted to announce Blue Yonder joining Panasonic. This association is the result of three years of collaboration, first with Panasonic as a Blue Yonder customer and then as a joint venture partner. We have built mutual trust and a shared vision of building an autonomous supply chain that delivers better lives and a better world. As an essential platform for critical moments, we are relentlessly committed to realizing our customers' potential."
The transaction has been approved by the boards of directors of Panasonic and Blue Yonder. The transaction was originally scheduled to be completed in the second half of fiscal 2021, subject to regulatory approval. Matsushita Digital transformation Acquisition |
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