In July 2020, Panasonic took a 20 per cent minority ownership stake and one seat on the Board of Directors of Blue Yonder
Panasonic Corporation has agreed to acquire Blue Yonder, the end-to-end, digital fulfillment platform provider. Panasonic will purchase the remaining 80 per cent of shares (for$5.6 billion) of Blue Yonder, adding to the 20 per cent which Panasonic acquired in July 2020.
This acquisition, as per Panasonic, strengthens it’s portfolio and accelerates the companies’ shared Autonomous Supply Chain mission, empowering customers to optimize their supply chains using the combined power of AI/ML and IoT and edge devices.
“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,” noted Girish Rishi, CEO of Blue Yonder.
Including repayment of outstanding debt the additional investment totals $7.1 billion, valuing Blue Yonder at $8.5 billion.
Panasonic/Blue Yonder strategic relationship
This acquisition builds on the Panasonic/Blue Yonder strategic relationship, established in January 2019 with a partnership, followed by the creation of a joint venture company in Japan in November 2019. In July 2020, Panasonic took a 20 per cent minority ownership stake and one seat on the Board of Directors of Blue Yonder.
For the year ended December 31, 2020, Blue Yonder’s revenue was over $1 billion, 67 per cent of which was recurring revenue. As of 31 December 2020, SaaS annual recurring revenue was USD343 million and SaaS net revenue retention
rate was 120 per cent.
Blue Yonder is a supply chain industry company, providing an end-to-end platform driven by AI/ML that serves as a “system of intelligence” for its global retail, manufacturing and logistics customers. Some of its clients include Caterpillar, Merceded Benz and Lowes.
“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,” noted Panasonic CEO Yuki Kusumi.
Kusumi added, “I am confident that by combining the power of Blue Yonder and Panasonic, we can create innovation in global supply chains.”
