Panasonic has bought Blue Yonder, a supply chain and artificial intelligence software service provider. The acquisition was announced on Friday. News JD Net.
Earlier, Panasonic had a 20 percent stake in Blue Yonder. Panasonic has acquired the remaining 60 percent stake in the company for 5.6 billion, valued at 7.1 billion.
Last year, Panasonic bought a 20 percent stake in Blue Yonder for about 790 million. Earlier, there was a business partnership between the two companies.
Founded in 1985 and led by CEO Girish Rishi, Blue Yonder is a supply chain solution service provider and builder of luminaire platforms. The company uses artificial intelligence and machine learning algorithm technology in planning, automation and e-commerce services. Seven-Eleven, Asda, Avon and Best Buy are one of their enterprise customers.
Currently, the value of Blue Yonder is about eight and a half-billion dollars. The company made more than 1 billion last year.
DBTech / BMT
