Panasonic Corp. has agreed to acquire Blue Yonder, an end-to-end, digital fulfillment platform provider. 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. Including repayment of outstanding debt the additional investment totals $7.1 billion, valuing Blue Yonder at $8.5 billion. An agreement to purchase the remaining shares of Blue Yonder was reached today between Panasonic and the existing shareholders New Mountain Capital and funds managed by Blackstone.
Panasonic CEO Yuki Kusumi stated, “I’m extremely happy to welcome Blue Yonder and its associates to the Panasonic Group. 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.”
Girish Rishi, CEO of Blue Yonder stated, “I am thrilled to announce that Blue Yonder is joining Panasonic. This association 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 that delivers a better life and a better world. As the essential platform for essential times, we are relentlessly focused in fulfilling our customers’ potential.”
Peter Masucci, managing director of New Mountain Capital stated, “We first began building Blue Yonder over 10 years ago, and the company has grown significantly since then. We’re proud to have supported the company’s transformation into the world’s leading end-to-end, digital fulfillment platform provider. We thank Blue Yonder’s management team and associates, Blackstone, and Panasonic for their partnership with New Mountain in this process.”
Martin Brand, senior managing director of Blackstone stated, “We are proud to have partnered with New Mountain Capital and Panasonic to support Girish and his team in their transformation of Blue Yonder into the supply chain SaaS leader through accelerated investment in innovation and machine learning capabilities. The company will have a bright future as part of the Panasonic Group.”