As per news source, Panasonic Corp will take over supply-chain software firm Blue Yonder for 700 billion yen ($6.45 billion).
Last year, Panasonic bought a 20% stake in Blue Yonder for 86 billion yen. The company is in the final stages of acquiring the rest of the stock from shareholders including Blackstone Group Inc.
Panasonic in a statement cleared that "This is not something that has been announced by our company. It is not true that it is something we have decided."
An acquisition would bolster Panasonic's supply chain management services as the COVID-19 pandemic focuses the attention of companies on their resilience to disruption.
news source also reveals that any deal to acquire Blue Yonder completely would be the largest since it spent 800 billion yen to make Sanyo Electric and Panasonic Electric Works wholly owned subsidiaries in 2011.
The acquisition money is likely to come from Panasonic's own funds, although loans or other financing may also be considered for the purchase, the report said.
The Japanese company deepened its partnership with Blue Yonder in May, gaining a seat on its board after acquiring a minority stake. The U.S. company uses machine learning to help companies manage supply chains that connect factories to warehouses and retailers.
