Panasonic has agreed to purchase digital fulfilment platform provider Blue Yonder.
Panasonic will purchase the remaining 80% of shares for $5.6 billion, (£4 billion), of Blue Yonder, adding to the 20% already acquired in July 2020.
By combining Panasonic’s industrial engineering, IoT, and edge technologies with Blue Yonder’s AI/ML-driven supply chain and commerce technologies, the company hopes to ‘greatly intensify’ the customer value of Blue Yonder’s digital fulfilment platform.
Girish Rishi, CEO of Blue Yonder said: “This [acquisition]came about as a result of three years of working together, first with Panasonic as a Blue Yonder customer and thereafter as joint venture partner. We have developed mutual trust and have a shared vision for an autonomous supply chain.”
Peter Masucci, Managing Director of New Mountain Capital added: “We first began building Blue Yonder over 10 years ago, and the company has grown significantly since then.”