Panasonic To Acquire Remaining 80% Blue Yonder Stake For $7.1B

Panasonic Corp PCRFY agreed to acquire the remaining 80% stake in digital fulfillment platform provider Blue Yonder Holding Inc for $7.1 billion from Blackstone Group Inc BX and New Mountain Capital LLC.
Blue Yonder was a supply chain provider offering an end-to-end platform driven by AI (artificial intelligence) and ML (machine learning), serving as a “system of intelligence” for its global retail, manufacturing, and logistics customers. Blue Yonder’s cloud-based LuminateTM platform seamlessly managed every supply chain node across planning, execution, and commerce on one unified platform.
The purchase consideration included $5.6 for stake acquisition and the remaining towards debt repayment.
The transaction will be financed with cash and a bridge loan.
This acquisition builds on the Panasonic and Blue Yonder’s January 2019 strategic relationship, with a partnership, followed by a joint venture company in Japan in November 2019.
Panasonic acquired a 20% stake in Blue Yonder in July for $800 million at a $5.5 billion valuation, Bloomberg reports. The remaining stake has been acquired at an $8.5 billion valuation.
This acquisition will consolidate Panasonic’s portfolio and accelerate their shared Autonomous Supply Chain mission, empowering customers to optimize their supply chains using the combined power of AI/ML and IoT and edge devices. The fusion of supply, demand and commerce solutions with IoT and edge technologies enabled companies to utilize predictive business insights better.
Earlier this month, Blue Yonder had confidentially filed for a proposed initial public offering.
Price action: PCRFY shares traded lower by 2.65% at $12.12 on the last check Friday.

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